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Technical analysis of EUR/JPY for November 6, 2015

General overview for 06/11/2015 09:20 CET

The bottom for the wave b purple looks to be in place and the market should unfold another upward wave to complete the cycle. The first possible target is around the golden channel trend line resistance and demands breakthrough zone resistance between the level of 133.70 - 133.91.

Support/Resistnace:

130.50 - WS2

131.60 - Intraday Support

131.75 - WS1

132.70 - Intraday Resistance

132.82 - Weekly Pivot

Trading recommendations:

Buy orders from yesterday should be kept open with TP at the level of 133.40.

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