Technical analysis of EUR/JPY for August 24, 2015 Market Analysis Review

General overview for 24/08/2015 11:30 CET

The market still cannot break out above the 138.84-138.94 resistance zone and the corrective cycle is getting more and more complex and time-consuming. Only a clear breakout below the intraday support at the level of 138.99 will confirm the top for the wave X brown is in place.

Support/Resistance:

139.65 - WR1

138.94 - Intraday Resistance

138.34 - Weekly Pivot

138.10 - Intraday Support

137.78 - WS1

137.05 - Intraday Support

Trading recommendations:

Daytraders should consider selling any breakout below the level of 138.10 with SL above the level of 138.94 and TP at the level of 137.04.

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

For detail explanation and best discovery on daily market trends and news you may visit via Technical analysis of EUR/JPY for August 24, 2015 . Thanks for your support.