FX.co ★ Technical analysis of EUR/JPY for November 19, 2015

General overview for 19/11/2015 09:50 CET

In a larger time frame, the market is still trading inside a big horizontal corrective cycle range between the levels of 130.63 and 141.00. There is still unfinished wave Z of the complex corrective cycle in wave B blue. The projected target level for this wave is seen around the psychological level of 130.00.

Support/Resistance:

130.44 - WS1

131.48 - Intraday Support

131.81 - Weekly Pivot

132.20 - Intraday Resistance

132.36 - WR1

Trading recommendations:

Day traders should close the buy orders from yesterday ( if they hadn't close them already) and wait for better trading setup to occur.