InstaForex - Analytics

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    Technical analysis of EUR/JPY for November 4, 2015

    General overview for 04/11/2015 08:00 CET

    The current wave development is very slow as it is typical for wave b progression. Nevertheless, the building bullish divergence between the price and momentum oscillator suggest that a rebound to the upside is unavoidable sooner or later. Please notice the wave b purple might go as low as the intraday support at the level of 131.58 before reversal.

    Support/Resistnace:

    131.58 - Intraday Support

    131.75 - WS1

    132.82 - Weekly Pivot

    133.73 - Intraday Resistance

    133.70 - 133.92 - Demand Breakthrough Zone

    Trading recommendations:

    Day traders should refrain from trading until a clearer trading setup occurs.

    eurjpy_h1.jpg

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