Technical analysis of EUR/JPY for November 27, 2015 Market Analysis Review

General overview for 27/11/2015 09:20 CET:

Markets are slowly resuming trading after the Thanksgiving day in the US. This is why the current situation did not change much since yesterday. The ending diagonal pattern probably needs only one sub-wave lower to complete. The target is still seen at the level of 129.50, but the bullish divergence between the price and momentum indicator supports the rebound scenario.

Support/Resistance:

129.48 - WS2

129.76 - Intraday Support

129.96 - WS1

130.47 - Intraday Resistance

130.78 - Intraday Resistance

Trading recommendations:

Day traders should wait for the TP at the level of 129.50 to be hit.

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

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