InstaForex - Analytics


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    Technical analysis of EUR/JPY for April 1, 2016 2016-04-01

    General overview for 01/04/2016:

    The impulsive wave progression to the upside has been completed and now the market is in the corrective cycle. Wave A of the correction has been made already, but the correction can be more complex and time consuming. If the market breaks below the intraday support at the level of 126.95, bears will be in control over this market. If the market makes another higher high above the level of 128.21, then bulls are still in control over this market.


    127.81 - Intraday Resistance

    127.42 - WR1

    127.09 - 127.26 - Supply Zone

    126.95 - Intraday Support

    126.04 - Weekly Pivot

    125.54 - WS1

    124.67 - Local Low

    124.18 - WS2

    123.69 - WS3

    123.07 - Green Impulsive Cycle Invalidation Level

    Trading recommendations:

    All buy orders have hit TP at the level of 128.18 and now are closed with profit. Traders should refrain from trading and wait for another trading setup to occur .


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