InstaForex - Analytics

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    Technical analysis of EUR/JPY for November 16, 2015

    General overview for 16/11/2015 08:00 CET

    Another wave downwards has unfolded after today's opening bell, so this triangle breakout to the downside is valid now. Nevertheless, there is still much room to the downside as the wave (c) hasn't been completed yet and only a sustained breakout above the wave (b) blue high at the level of 132.80 would change the bearish outlook.

    Support/Resistance:

    130.44 - WS1

    130.63 - Intraday Support

    131.48 - Intraday Resistance

    131.81 - Weekly Pivot

    132.36 - WR1

    Trading recommendations:

    Day traders should placing sell orders from the current levels with SL above the level of 131.82 and TP, which is open now.

    eurjpy_h1.jpg

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