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

General overview for 25/11/2015:

As anticipated yesterday, the intraday resistance at the level of 13078 has not been broken and the market has made another wave down to complete the wave 5 purple of the ending diagonal structure. The current projected target for wave 5 purple is at the level of 129.50 and a rebound from this level is currently expected.

Support/Resistance:

129.48 - WS2

129.96 - WS1

130.18 - Intraday Resistance

130.78 - Intraday Resistance

Trading recommendations:

Daytraders should consider reopening sell orders from the level of 130.18 with tight SL and TP at the level of 129.50.