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Technical analysis of EUR/JPY for August 24, 2015

General overview for 24/08/2015 11:30 CET

The market still cannot break out above the 138.84-138.94 resistance zone and the corrective cycle is getting more and more complex and time-consuming. Only a clear breakout below the intraday support at the level of 138.99 will confirm the top for the wave X brown is in place.


139.65 - WR1

138.94 - Intraday Resistance

138.34 - Weekly Pivot

138.10 - Intraday Support

137.78 - WS1

137.05 - Intraday Support

Trading recommendations:

Daytraders should consider selling any breakout below the level of 138.10 with SL above the level of 138.94 and TP at the level of 137.04.


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