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Technical analysis of EUR/JPY for November 2, 2015

General overview for 02/11/2015: 13:10 CET

The consolidation in the wave b purple is now taking place as the demand break-through zone has not been violated. This situation might last up to the Friday US dataon non-farm payrolls, so any waves evolving into more complex corrections should not be surprising.

Support/Resistnace:

131.58 - Intraday Support

131.75 - WS1

132.82 - Weekly Pivot

133.73 - Intraday Resistance

133.70 - 133.92 - Demand Breakthrough Zone

Trading recommendations:

Day traders should refrain from trading until a more clear trading setup occurs.

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