General overview for 29/06/2015 10:00 CET
As anticipated last week, the wave progression to the downside has finally started with a gap down on the back of Greek news. However, any move above the level of 137.63 will invalidate the main green impulsive count and the alternate labeling will be in charge then. It would mean a low of wave Y black would be in place at the level of 133.75 and the market might start another cycle upward.
Support/Resistance:
133.75 - Swing Low
134.46 - Intraday Support
136.13 - Weekly Pivot
136.38 - Intraday Resistance
136.95 - Technical Resistance
137.62 - Invalidation Level
138.03 - WR1
Trading recommendations:
Daytraders should had closed their sell orders already as the TP levels from last week were all hit and even extended to the downside, but if orders are still open, the SL should be lowered to the level of 136.38.
For detail explanation and best discovery on daily market trends and news you may visit via Technical analysis of EUR/JPY for June 29, 2015 . Thanks for your support.
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