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

General overview for 09/11/2015 09:50 CET

The wave b purple is completed and the price is now rallying upwards to complete wave c of the corrective cycle in wave (b) blue. 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/Resistnace:

131.47 - WS1

123.34 - Weekly Pivot

132.70 - Intraday Support

133.20 - WR1

133.55 - Intraday Resistance

Trading recommendations:

Day traders should consider placing buy orders at current price levels with SL below the level of 132.70 and TP at the level of 133.55.

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 November 9, 2015 . Thanks for your support.