InstaForex - Analytics

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    Technical analysis of EUR/JPY for November 19, 2015

    General overview for 19/11/2015 09:50 CET

    In a larger time frame, the market is still trading inside a big horizontal corrective cycle range between the levels of 130.63 and 141.00. There is still unfinished wave Z of the complex corrective cycle in wave B blue. The projected target level for this wave is seen around the psychological level of 130.00.

    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 close the buy orders from yesterday ( if they hadn't close them already) and wait for better trading setup to occur.

    eurjpy_h4.jpg

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