FX.co ★ Technical analysis of EUR/JPY for March 10, 2014

General overview for 10/03/2014 13:20 CET

There is the anticipated impulsive wave progression to the upside in case the last swing down was a wave 4 purple correction has finally emerged and first three waves of that impulsive price progression has been done already. Currently, the price is in a corrective cycle wave (iv) green; and when the correction is finished, the upside trend will resume for one more push higher above the 145.68 top.

Support/Resistance:

145.49 - WR1

143.78 - Wave (iii) green high

143.59 - Intraday resistance

142.85 - Intraday support

142.31 - Weekly pivot

140.86 - WS1

Trading recommendations:

Buy stop orders should be opened from the level of 143.85, with SL below the level of 143.59 and TP at the level of 145.49 with a possible upside extension.