Technical analysis of EUR/JPY for July 10, 2015 Market Analysis Review

General overview for 10/07/2015 08:20 CET

After making the double bottom in the hourly chart, the market has sharply rebounded to the upside and currently it is trading at the level of 135.61. Yesterday's intraday resistance acts as support at the level of 135.42. Strong violation of this level and weekly pivot level might stop the further upward wave progression. The targets to the upside are intraday resistance at the level of 136.05 and at the level of 138.16 might be hit.

Support/Resistance:

133.26 - Swing Low

134.98 - Weekly Pivot

135.42 - Intraday Support

136.05 - Intraday Resistance

136.25 - WR1

Trading recommendations:

Daytraders should consider opening buy orders from current price levels with SL below the level of 134.98 and TP at the level of 136.05.

The material has been provided by InstaForex Company - www.instaforex.com

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