General Overview for 30/04/2014 16:30 CET
The top indicated yesterday has been confirmed and the price has made a five wave decline towards supply breakthrough zone. The wave (i) green has been finished and now the market is in a corrective cycle. Waves abc purple in wave (ii) green have been completed, but please notice that this still might be only the wave a green of a correction. Only a breakout below 140.97 - 141.06 zone will confirm that correction is finished.
Support/Resistance:
142.41 - WR2
142.35 - Intraday Resistance
142.14 - Intraday Support
141.89 - WR1
141.68 - Wave iv Low
141.45 - Weekly Pivot
140.97 - 141.06 - Supply Breakthrough Zone
140.93 - WS1
140.50 - WS2
Trading recommendations:
Short positions opened yesterday should still be kept open with SL and TP levels without change.
The material has been provided by InstaForex Company - www.instaforex.comFor detail explanation and best discovery on market trends you may visit via Technical analysis of EUR/JPY for April 30, 2014 . Thanks for your support on Technical analysis of EUR/JPY for April 30, 2014
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