Technical analysis of EUR/JPY for September 17, 2015 Market Analysis Review

General overview for 17/09/2015 08:45 CET

After reaching a low for the wave (b) blue at the levels of 135.00, the market sharply reversed to the upside in an impulsive fashion to hit the lower channel boundary at the level of 136.60. Currently, the market is trying to breakout even higher to test the intraday resistance at the level of 137.04. But ahead of the important Fed's interest rate decision and press conference, this kind of moves must be treated very carefully.

Support/Resistnace:

138.80 - WR1

137.04 - Intraday Resistnace (strong)

135.88 - Intraday Support

135.72 - Weekly Pivot

134.53 - WS1

Trading recommendations:

Due to the Fed's interest rate decision and press conference, traders should refrain from trading.

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

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