Technical analysis of EUR/JPY for December 17, 2015 Market Analysis Review

General overview for 17/12/2015 09:50 CET

The internal wave progression of the wave b green is evolved into a more complex and time-consuming structure. Inside of this structure, the wave c green to the downside is still missed and a projected target is seen at the level of 132.13.

Support/Resistance:

134.74 - WR2

134.57 - Swing High

133.76 - Intraday Resistance

133.62 - WR1

133.11 - Weekly Pivot

132.70 - Intraday Support

132.12 - 50%Fibo

Trading recommendations:

Day traders should consider placing sell orders only if the level of 132.70 is violated. SL orders should be placed at the level of 133.30 and TP orders should be placed at the level of 132.14.

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

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