InstaForex - Analytics

    InstaForex

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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.

    Support/Resistance:

    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.

    eurjpy_h1.jpg

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