Technical analysis of EUR/JPY for September 10, 2015 Market Analysis Review

General overview for 10/09/2015 08:10 CET

As anticipated yesterday, the market has hit the intraday resistance at the level of 135.81 and the corrective structure to the upside might be completed now. Nevertheless, the correction might get more complex if the downward wave develops in a choppy fashion, full of whipsaws and false breakouts. The intraday support at the level of 134.25 is the key downside level downside.

Support/Resistnace:

136.68 - 61%Fibo

135.81 - Intraday Resistnace

135.59 - 50%Fibo

134.80 - WR1

134.25 - Intraday Support

133.50 - Weekly Pivot

Trading recommendations:

Daytraders should consideropening sell orders from the current price levels with SL just above the level of 135.81 and TP at the level of 134.25.

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

For detail explanation and best discovery on daily market trends and news you may visit via Technical analysis of EUR/JPY for September 10, 2015 . Thanks for your support.