General overview for 14/01/2016:
The outlook for this pair has not really changed much as the wave b purple progression is getting more complex and time-consuming. The target for the potential wave c purple is still at the level of 129.61, just above the old wave -iv- top. Nevertheless, to confirm this scenario, the price must break out higher above the golden trend line in an impulsive fashion.
Support/Resistance:
127.31 - Intraday Support
128.31 - Weekly Pivot
129.08 - Intraday Resistance
129.31 - Wave c Target Projection
131.01 - Technical Resistance
Trading recommendations:
Day traders should open buy orders from current market levels witch SL just below the last intraday support at the level of 127.31 and TP at the level of 129.61
For detail explanation and best discovery on daily market trends and news you may visit via Technical analysis of EUR/JPY for January 14, 2016 . Thanks for your support.
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