Technical analysis of EUR/JPY for September 21, 2015 Market Analysis Review

General overview for 21/09/2015 10:00 CET

The low for the wave b green has been made, but is not confirmed so far as the market trades below the golden trendline and below the lower channel line. Both of this lines will be acting as dynamic resistance and only a clear breakout above them will make the bullish scenario possible.

Support/Resistance:

133.49 - WS2

134.35 - WS1

135.20 - Intraday Support

135.91 - Weekly Pivot

135.99 - Intraday Resistance

136.84 - WR1

137.43 - Intraday Resistance

Trading recommendations:

Daytraders should consider opening sell orders with SL above the level of 136.40 and open TP for now. In case of a clear violation of the level 136.40, no sell orders should be opened as the market might be heading towards a new high above the level of 137.43.

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

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