FX.co ★ Technical analysis of EUR/JPY for March 10, 2015

General overview for 10/03/2015 09:00 CET

The current price action is not very violate and the intraday resistance at the level of 131.84 is the key level to more gains. The market trades inside the bearish zone and only a breakout higher would allow wave c purple to unfold. On the other hand, any breakout below the intraday support at the level of 130.69 will be considered as very bearish and next immediate support is at the level of 130.53.

Support/Resistance:

130.53 - WS3

130.69 - Intraday Support

131.81 - Intraday Resistance

131.96 - WS2

132.77 - WS1

134.32 - Weekly Pivot

Trading recommendations:

Not much of any impulsive progression to the upside unfolded, but still daytraders should observe the market and wait for a clear price behavior.