FX.co ★ Technical analysis of EUR/JPY for September 23, 2015

General overview for 23/09/2015 08:40 CET

The wave c green of the wave (b) is almost completed and any breakout above the intraday resistance at the level of 133.74 will be bullish. Please notice the corrective cycle to the downside labeled as abc purple might be a part of a five wave impulsive cycle (alternative count).

Support/Resistance:

132.22 - Technical Support

133.45 - WS2

133.73 - Intraday Resistance

134.35 - WS1

134.79 - Technical Resistnace

Trading recommendations:

Daytraders and swingtraders should consider opening buy orders with SL below the level of 133.00 and open TP at the level of 134.35.