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Technical analysis of EUR/JPY for November 10, 2015

General overview for 10/11/2015 08:50 CET

The first attempt to break above the the golden channel line has failed, but there is still a possibility of a further rally upward. The first target for wave (b) is seen at the level of 133.55, but it might goes higher into the demand breakthrough zone and be capped then.

Support/Resistnace:

131.47 - WS1

123.34 - Weekly Pivot

132.70 - Intraday Support

133.20 - WR1

133.55 - Intraday Resistance

Trading recommendations:

Day traders should consider placing buy orders at current price levels with SL below the level of 132.30 and TP at the level of 133.55.

eurjpy_h1.jpg

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