General overview for 14/05/2015 10:10 CET
The latest count had been slightly changed to incorporate the latest wave up labeled as wave (v) green. This wave is still incomplete as it looks like it needs one more sub-cycle higher to finish the impulsive sequence and reverse lower. Please notice that bearish divergence has been formed between the price and the momentum oscillator. This fact supports our view. A breakout below the intraday support at the level of 135.46 would be another confirmation.
Support/Resistance:
134.34 - Weekly Pivot
135.46 - Intraday Support
135.59 - WR1
135.97 - Intraday Resistance
Trading recommendations:
Daytraders and swingtraders should consider opening sell orders after a new high is made and the impulsive structure is completed.
For detail explanation and best discovery on daily market trends and news you may visit via Technical analysis of EUR/JPY for May 14, 2015 . Thanks for your support.
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