General overview for 06/01/2016:
An impulsive wave progression in the last wave c might be about to terminate as the cycle is looking mature and the bullish divergence supports the view. Nevertheless, the price must break out higher above the level of 128.67 to confirm this point of view.
Support/ Resistance :
127.32 - Intraday Support
127.98 - WR3
128.67 - Intraday Resistance
129.31- WS2
Trading recommendations:
Daytraders should watch this pair closely and consider buying on the dips in this market with tight SL as the downside trend might reverse any time soon.
For detail explanation and best discovery on daily market trends and news you may visit via Technical analysis of EUR/JPY for January 6, 2016 . Thanks for your support.
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