FX.co ★ Technical analysis of EUR/JPY for March 31, 2015

General overview for 31/03/2015 15:50 CET

The current Elliott wave count is the last chance for bulls to push the market higher in order to complete the wave (c) blue, otherwise the alternative count will be in play. Please notice that the bullish divergence is supporting the upward scenario.

Support/Resistance:

127.55 - WS2

128.49 - WS1

128.65 - Intraday Support

129.14 - Intraday Resistance

130.00 - Weekly Pivot

Trading recommendations:

Daytraders should refrain from trading and wait for more clear pattern to emerge sooner or later.