General overview for 08/01/2016:
An anticipated yesterday, the downtrend finally reversed to the upside in an impulsive fashion. To keep the reversal valid, the price must not break below the level of 128.17. Please notice there is an unfilled gap at the level of 130.75, which might be the next near-term target.
Support/ Resistance :
127.98 - WR3
128.17 - Intraday Support
129.07 - Intraday Resistance
129.31- WS2
Trading recommendations:
The buy orders from yesterday should be still kept open with SL moved higher to the level of 128.16. TP is open for now, but the nearest good level to take out partial profits is 129.50.
For detail explanation and best discovery on daily market trends and news you may visit via Technical analysis of EUR/JPY for January 8, 2016 . Thanks for your support.
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