Forex news

  • Home
  • Forex analysis
  • Forex brokers news
  • Choose a broker

Technical analysis of EUR/JPY for April 27, 2015

May 27, 2015 by Forex analysis review

Share this:

  • Click to share on Twitter (Opens in new window)
  • Click to share on Facebook (Opens in new window)
  • Click to share on LinkedIn (Opens in new window)
  • Click to share on Google+ (Opens in new window)
  • Click to share on Tumblr (Opens in new window)
  • Click to share on Pinterest (Opens in new window)

General overview for 27/05/2015 09:55 CET

There are two possible scenarios on the intraday chart. Both scenarios depend on the key level violation. The first main count scenario indicates that wave (ii) green is completed and wave i blue is in place. So, the current upside rally is only a minor, internal corrective cycle that should terminate below the intraday resistance at the level of 134.50 and continue lower. On the other hand, alternative count indicates a more complex corrective structure in wave (ii) green and a breakout which is likely to take place above the intraday resistance in order to complete wave c green is of the overall structure. In both scenarios the key level is intraday support at the level of 133.65 because any breakout lower will be considered bearish.

Support/Resistance:

133.08 – Technical Support

133.65 – Intraday Support|Key Level|

134.29 – Weekly Pivot

134.50 – Intraday Resistance

135.23 – WR1

135.31 – Technical Resistance

Trading recommendations:

Daytraders should consider opening sell orders from the current levels with SL just above the level of 134.51 ant TP at the level of 133.65. Please notice that even greater sell-off in this market can happen if the lower technical support at the level of 133.08 is violated.

eurjpy_h1.jpg

The material has been provided by InstaForex Company – www.instaforex.com



Share this:

  • Click to share on Twitter (Opens in new window)
  • Click to share on Facebook (Opens in new window)
  • Click to share on LinkedIn (Opens in new window)
  • Click to share on Google+ (Opens in new window)
  • Click to share on Tumblr (Opens in new window)
  • Click to share on Pinterest (Opens in new window)

Related posts:

  1. Technical analysis of EUR/JPY for April 16, 2015
  2. Technical analysis of USD/CAD for April 20, 2015
  3. Technical analysis of EUR/JPY for April 21, 2015
  4. Technical analysis of EUR/JPY for Febuary 13, 2015
  5. Technical analysis of USD/CAD for April 28, 2015
  6. Technical analysis of USD/CAD for April 8, 2015
  7. Technical analysis of USD/CAD for April 17, 2015
  8. Technical analysis of USD/CAD for April 9, 2015

Filed Under: Forex analysis

Best forex brokers ads

Ads

HotForex Bonus
InstaForex

Categories

  • Alpari broker news
  • EasyMarkets review
  • Etoro analysis
  • Exness Review
  • Forex analysis
  • Forex brokers
  • Forex brokers news
  • Instaforex company news
  • Liteforex news and analysis
  • Roboforex news
  • XM forex brokers news and reviews
  • XM.com
  • Zulutrade Review
Rrula.org forex news copyright 2013