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    Technical analysis of EUR/JPY for September 3, 2015

    General overview for 03/09/2015 08:00 CET

    The market is waiting for tomorrow's NFP data release. The ranges are the same as yesterday with the current price trading inside the bearish zone. The complex corrective structure looks completed now, but the upside is limited by the weekly pivot at the level of 136.50. Moreover, the top of the wave B had been established at the level of 138.94 according to this count, and the market should now continue the downside wave development in order to complete the wave C black.

    Support/Resistance:

    134.67 - Intraday Support

    135.00 - Technical Support

    136.50 - Weekly Pivot

    136.60 - Intraday Resistance

    Trading recommendations:

    Daytraders should consider opening buy orders only if the level of 136.60 is clearly violated (hourly candle close above the level) with SL just below the level of 135.23 and TP at the level of 137.60.

    eurjpy_h1.jpg

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