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    Technical analysis of EUR/JPY for October 22, 2015

    General overview for 22/10/2015 09:40 CET

    After making wave b green top at the level of 136.40 the market declined and it is currently trading at the local channel line support. As the wave c green develops downwards, the next intraday support is seen at the level of 135.25, but the key level for bears is supply breakthrough zone between the levels of 134.63 and 134.76.

    Support/Resistance:

    136.95 - Wave D Top

    136.58 - WR1

    136.00 - Intraday Resistnace

    135.68 - Weekly Pivot

    135.25 - Intraday Support

    Trading recommendations:

    Sell orders (SL above the level of 136.99 and TP at the level of 134.75.) recommended yesterday should still be kept open as the market develops wave c to the downside.

    eurjpy_h1.jpg

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