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    Technical analysis of EUR/JPY for April 9, 2015

    General overview for 09/04/2015 08:30 CET

    The corrective cycle in wave (b) is deepening its retracement below the 61%Fibo level. The next key support is likely to be found at the level of 78% Fibonacci at 129.42. Nevertheless, any breakout below this level might result in a recent local low test again at the level of 128.40 followed with eventual bounce/reversal. Please notice that the market is moving in clear corrective channel now. It must break out of the channel to continue impulsive wave progression for wave (c) blue.

    Support/Resistance:

    128.40 - Swing Low

    129.03 - 78%Fibo

    129.74 - Intraday Resistance

    Trading recommendations:

    Daytraders should consider opening buy positions from the level of 129.03 with SL below the level of 128.40 and TP open for now.

    2015-04-09_eurjpy.jpg

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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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