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Technical analysis of EUR/JPY for June 10, 2015

General overview for 10/06/2015 16:25 CET

As anticipated from the beginning of the week the corrective wave C green finally is about to hit the support breakthrough zone between the levels of 138.31 and 138.03. Moreover, the corrective cycle might even get extended lower to the 50%Fibo at the level of 137.91 if the grey rectangle area is violated. Nevertheless, the most important support is seen at the level of 136.95.

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:

The yesterday's TP has been hit and the market is testing a very important level now. So, traders should stay aside and wait for market response.

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