General overview for 16/12/2015 08:40 CET
A grey resistance zone around the level of 133.33 had been violated, but market was not strong enough to follow the breakout. Currently, the internal wave progression of the wave b green is evolving into more complex and time-consuming structure as markets are awaiting today's Fed's rate decision.
Support/Resistance:
134.74 - WR2
134.57 - Swing High
133.62 - WR1
133.51 - Intraday Resistance
133.11 - Weekly Pivot
132.70 - Intraday Support
132.12 - 50%Fibo
Trading recommendations:
Sell orders placed yesterday were activated, but did not hit the projected TP level (30 pips short). Currently, traders should refrain from trading and wait for the better setup to occur.
For detail explanation and best discovery on daily market trends and news you may visit via Technical analysis of EUR/JPY for December 16, 2015 . Thanks for your support.
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