Technical analysis of EUR/JPY for October 9, 2015 Market Analysis Review

General overview for 09/10/2015 09:30 CET

An upward move has finally started showing some impulsive signs in wave progression. According to the Elliott wave count, the market is now in wave (iii) green of the overall upward progression and it should reach the level of 137.47 as the first target projection for wave (c) blue.

Support/Resistance:

137.44 - Technical Resistnace

136.12 - WR2

136.00 - Intraday Resistnace

135.43 - WR1

Trading recommendations:

Daytraders should consider opening buy orders from the current price levels with SL below the level of 135.98 and TP at the level of 137.44.

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

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