Technical analysis of EUR/JPY for November 20, 2015 Market Analysis Review

General overview for 20/11/2015 13:40 CET

Another false breakout to the upside had been made yesterday and the market still trades inside the bearish zone. First bullish breakout confirmation comes with the breakout of the intraday resistance at the level of 132.22 with the target at the level of 132.80. On the other hand, the bearish breakout confirmation comes with the violation of 131.11 with the target at 130.69.

Support/Resistance:

130.44 - WS1

131.11 - Intraday Support

131.81 - Weekly Pivot

132.22 - Intraday Resistance

132.36 - WR1

Trading recommendations:

Day traders should place buy orders at the current levels with SL below the level of 131.11 and TP, which is open now.

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