Technical analysis of EUR/JPY for December 30, 2015 Market Analysis Review

General overview for 30/12/2015 08:00 CET

The weekly pivot at the level of 131.96 was broken, and the price hit the intraday support at the level of 131.48. Further downside wave progression is expected as the impulsive cycle hasn't been completed yet. The projected target for wave c purple is at the level of 130.68.

Support/Resistance:

129.87 - WS3

130.68 - WS2

131.02 - Technical Support

131.14 - WS1

131.48 - Intraday Support

131.96 - Weekly Pivot

132.44 - WR1

132.77 - Intraday Resistance

133.26 - WR2

133.74 - WR3

Trading recommendations:

Sell orders from yesterday has been closed on profit.

Day traders should consider placing sell orders at the current market levels with SL above 131.96 and TP at the level of 130.68 and below.

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

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