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    Technical analysis of EUR/JPY for November 17, 2015

    General overview for 17/11/2015 06:40 CET

    The weekend retail gap had been completely filled, but after a short rally the market declined again to the level of 131.48, which is intraday support now. Any sustained breakout lower will result in a test at the level of 130.63 and even a possible downside continuation. On the other hand, any breakout above the recent intraday resistance at the level of 132.20 will result in the rally up to the first projected target at 132.80.

    Support/Resistance:

    130.44 - WS1

    131.48 - Intraday Support

    131.81 - Weekly Pivot

    132.20 - Intraday Resistance

    132.36 - WR1

    Trading recommendations:

    Day traders should place sell orders at the current levels with SL above the level of 132.21 and TP, which is open now.

    eurjpy_h1.jpg

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