Technical analysis of EUR/JPY for December 31, 2015 Market Analysis Review

General overview for 31/12/2015 09:00 CET

The market is consolidating in a narrow range around the intraday support at the level of 131.34. Further downside wave progression is expected as an impulsive cycle has not been completed yet. A projected target for wave c purple is at the level of 130.68.

Support/Resistance:

129.87 - WS3

130.68 - WS2

131.02 - Technical Support

131.14 - WS1

131.34 - Intraday Support

131.96 - Weekly Pivot

132.44 - WR1

132.77 - Intraday Resistance

133.26 - WR2

133.74 - WR3

Trading recommendations:

Day traders should keep sell orders open with SL above 131.96 and TP at the level of 130.68 and below.

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 December 31, 2015 . Thanks for your support.