Technical analysis of EUR/JPY for October 8, 2015 Market Analysis Review

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

The market keeps trading inside the neutral zone with no signs of an impulsive rebound to the upside. The market is still trading above the weekly pivot point, but it is not strong enough to breakout above the resistance levels of 135.97 - 126.12. Moreover, it has just tested the golden trend line from the downside and got rejected suggesting more room for a drop.

Support/Resistnace:

135.97 - 136.12 - Technical Resistnace

135.71 - Intraday Resistnace

135.43 - WR1

134.41 - Weekly Pivot

134.36 - Intraday Support

Trading recommendations:

Daytraders should refrain from trading until more clear pattern occurs.

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