General overview for 16/11/2015 08:00 CET
Another wave downwards has unfolded after today's opening bell, so this triangle breakout to the downside is valid now. Nevertheless, there is still much room to the downside as the wave (c) hasn't been completed yet and only a sustained breakout above the wave (b) blue high at the level of 132.80 would change the bearish outlook.
Support/Resistance:
130.44 - WS1
130.63 - Intraday Support
131.48 - Intraday Resistance
131.81 - Weekly Pivot
132.36 - WR1
Trading recommendations:
Day traders should placing sell orders from the current levels with SL above the level of 131.82 and TP, which is open now.
For detail explanation and best discovery on daily market trends and news you may visit via Technical analysis of EUR/JPY for November 16, 2015 . Thanks for your support.
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