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    Technical analysis of EUR/JPY for Febuary 4, 2015

    General overview for 04/02/2015 10:49 CET

    The last impulsive wave up is in progress and the projected target is still at the level of 137.64. This target can be meet only if the intraday resistance at the level of 135.34 is violated in impulsive fashion. On the other hand, any downside extension below the level of 133.57 would mean that the top for the wave (c) blue is in place. Breakout below weekly pivot at the level of 132.37 supports the view.

    Support/Resistance:

    137.64 - Target Level

    136.58 - WR2

    135.34 - Intraday Resistance

    134.59 - WR1

    134.34 - Intraday Support

    133.57 - Intraday Support

    132.37 - Weekly Pivot

    Trading recommendations:

    The buy orders recommended yesterday were in profit for some time but the overall extension to the upside has not been as big as expected and the SL levels were hit eventually. Currently two levels are in play (135.34 to the upside and 133.57 to the downside). Traders should keep an eye on the price behavior at this levels and trade accordingly.

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    Sebastian Seliga neemt deel aan de "Analyst of the Year" onderscheiding georganiseerd door MT5.com portal. Als u zijn artikel goed vindt, stemt u dan op hem.

    Uitgevoerd door, Analytische expert
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