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Technical analysis of EUR/JPY for June 9, 2015

General overview for 09/06/2015 14:15 CET

The market is developing a typical corrective cycle called regular flat, where wave c green is in progress now. The first projected target is at the levels of 138.87 and the second is inside the supply breakthrough zone between the levels of 138.03 and 138.32. Please notice that only a sustained breakout above the last swing high would invalidate this count.

Support/Resistance:

141.05 - Swing High|Intraday Resistance|

138.88 - Intraday Support

138.71 - Weekly Pivot

138.03 - 138.32 - Supply Breakthrough Zone

136.95 - Technical Support

Trading recommendations:

Daytraders should consider opening sell orders from current price levels with SL above the level of 140.01 and TP at the level of 138.87.

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