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Wave analysis

14.04.201509:30 Forex Analysis & Reviews: Technical analysis of EUR/JPY for April 14, 2015

Long-term review

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General overview for 14/04/2015 09:20 CET

Just a small adjustment, as there is now, detailed the count of the wave (iii) green. Moreover, the whole structure looks like an almost completed impulsive cycle trading inside the channel that might make another upside breakout soon. The bullish divergence between the price and momentum oscillator supports the bullish view, but please notice that any breakout below a new low would make the level of 125.40 to turn the next support level for the market.

Support/Resistance:

125.40 - WS1

126.11 - Intraday Support

126.54 - Intraday Resistance

127.70 - 127.80 - Supply Zone

Trading recommendations:

Yesterday's buy orders could be closed with only a marginal profit, but please notice buying is likely to open uo as soon as the impulsive cycle is done.

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