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    Technical analysis of EUR/JPY for Febuary 2, 2016 2016-02-02

    General overview for 02/02/2016:

    The pair still trades inside a narrow range zone between the levels of 132.32 and 130.22. Moreover, first indications of a possible three-wave correction termination is visible as well, so any rally upwards that breaks a local high at the level of 132.31 will be labeled as wave three of the main impulsive structure.

    Support/Resistance:

    133.69 - WR1

    132.27 - Local High|Intraday Resistance|

    130.76 - Weekly Pivot

    130.22 - Intraday Support

    129.18 - WS1

    Trading recommendations:

    Day traders should refrain from trading and wait for another trading setup to occur.

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