For Traders

Analytical Reviews

Wave analysis

14.01.201409:53 Forex Analysis & Reviews: Technical analysis of EUR/JPY for January 14, 2014

Long-term review

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

General overview for 14/01/2014 07:40 CET

The range indicated yesterday has been broken to the downside as anticipated.

Currently, the main count indicates one more low possibe as long as the level of 142.16 is not violated. If it is, then the level of 140.48 is the low for wave C green.

Please notice that to confirm the upward scenario, the intrady resistance at the level of 141.56 must be broken. In case of failure, the downside target is the level of 140.00.

Support/Resistance:

140.48 - Intraday Support

140.63 - WS2

140.83 - 141.05 - Technical Support Zone

141.42 - WS1

141.56 - Intraday Resistance

142.28 - Weekly Pivot

Trading recommendations:

For intraday scalpers: if the level of 141.56 is broken, then Buy Stop orders should be opened, with SL at the level of 140.99 and TP at the level of 142.04 and 142.28.

Back to the list

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.