General overview for 11/11/2015 10:20 CET
The first attempt to break above the the golden channel line has failed, but there is still a possibility of a further rally upward. Currently, the market is trying to break above the weekly pivot level. The first target for wave (b) is seen at the level of 133.55, but it might goes higher into the demand breakthrough zone and be capped then.
Support/Resistance:
131.61 - Intraday Support
131.47 - WS1
132.40 - Intraday Resistance
123.34 - Weekly Pivot
133.20 - WR1
Trading recommendations:
Day traders should consider placing buy orders at current levels with SL below the level of 131.46 and TP at the level of 133.55.
For detail explanation and best discovery on daily market trends and news you may visit via Technical analysis of EUR/JPY for November 11, 2015 . Thanks for your support.
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