18.09.201509:45 Forex Analysis & Reviews: Technical analysis of EUR/JPY for September 18, 2015

Long-term review

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General overview for 18/09/2015 09:40 CET

The high of the wave a green has been established at the level of 137.44, and currently the market is in decline as the wave b green progresses. Any breakout below the intraday support at the level of 136.00 will directly expose the important wave (b) blue low at the level of 135.00. On the other hand, to continue to the upside, the market must break out above the golden trendline and make a new high above the level of 137.45.

Support/Resistance:

137.45 - Intraday Resistance

136.62 - Intraday Resistnace

136.00 - Intraday Support

135.72 - Weekly Pivot

135.00 - Technical Support

Trading recommendations:

Daytraders should consider opening sell orders from the current price levels with SL above the level of 136.63 and TP at the level of 136.00.

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