InstaForex - Analytics

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    Technical analysis of EUR/JPY for October 16, 2015

    General overview for 16/10/2016 08:45 CET

    The price bounced from 61%Fibo, and now it is going higher in corrective wave b green to test the intraday resistance at the level of 135.99. There is still one wave down missing, wave c green, to complete the overall wave E black as a completed cycle. Only a clear, impulsive breakout above the level of 136.95 would invalidate the view.

    Support/Resistance:

    136.11 - Weekly Pivot

    135.99 - Intraday Resistnace

    135.28 - WS1

    134.79 - Intraday Support

    134.77 - 61% Fibo

    Trading recommendations:

    Day traders should consider opening sell orders from the level of 135.99 with SL above the level of 136.20 and TP at the level of 135.21.

    eurjpy_h1.jpg

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