FX.co ★ Technical analysis of EUR/JPY for September 25, 2015

General overview for 25/09/2015 10:00 CET

One more scenario has been added to the current wave development. According to this alternative count, the whole decline from the level of 137.43 is an uncompleted five wave structure. The recent choppy and overlapping up move has been labeled as wave alt. iv, and now another leg down is expected to complete the cycle.

Support/Resistnace:

134.98 - Technical Resistance

134.35 - WS1

133.74 - Intraday Support

133.46 - WS2

Trading recommendations:

Daytraders should consider opening sell orders at current levels with SL above the level of 134.97 and TP at the level of 133.75.