InstaForex - Analytics

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    Technical analysis of EUR/JPY for October 23, 2015

    General overview for 23/10/2015:

    After an impulsive break below the break-through supply zone, the current wave c green has hit 127% Fibo at 133.62 and weekly pivot support at the level of 133.56. The three-wave structure might be the first sign of the completed wave E of the triangle.

    Support/Resistnace:

    133.40 - Intraday Support

    133.56 - WS2

    133.62 - 127%Fibo

    134.26 - Intraday Resistnace

    134.45 - WS1

    Trading recommendations:

    The TP level recommended yesterday were hit and the short traders advised through the week made profits. Congratulations to all the traders who managed to succeed!

    eurjpy_h1.jpg

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