General overview for 11/09/2015 07:45 CET
The 61%Fibo retracement level has been hit today and this pair is now at the important resistnace level. Just above this important levels another Fibo level at 136.50 lies. Moreover, the clear upper-channel line will be acting as a dynamic resistnace as well, so the whole orange rectangle area looks like key resistnace for today. Please notice, the recent move up might be just a wave (a) of a more complex and time consuming corrective wave.
Support/Resistnace:
136.70 - 66%Fibo
136.50 - 127% of Wave a Green
136.38 - 61%Fibo
135.81 - Intraday Support
Trading recommendations:
Daytraders should consider opening sell orders from the current price levels with SL just above the level of 136.71 and TP at the level of 135.81.
For detail explanation and best discovery on daily market trends and news you may visit via Technical analysis of EUR/JPY for September 11, 2015 . Thanks for your support.
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