Technical analysis of EUR/JPY for October 22, 2015 Market Analysis Review

General overview for 22/10/2015 09:40 CET

After making wave b green top at the level of 136.40 the market declined and it is currently trading at the local channel line support. As the wave c green develops downwards, the next intraday support is seen at the level of 135.25, but the key level for bears is supply breakthrough zone between the levels of 134.63 and 134.76.

Support/Resistance:

136.95 - Wave D Top

136.58 - WR1

136.00 - Intraday Resistnace

135.68 - Weekly Pivot

135.25 - Intraday Support

Trading recommendations:

Sell orders (SL above the level of 136.99 and TP at the level of 134.75.) recommended yesterday should still be kept open as the market develops wave c to the downside.

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 October 22, 2015 . Thanks for your support.