03.07.201513:39 Forex Analysis & Reviews: Technical analysis of EUR/JPY for July 3, 2015

Long-term review

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General overview for 03/07/2015 13:35 CET

The corrective cycle in wave b green ( alt: -iv- blue) evolves into more complex and time-consuming one as the fundamental factors from Greece weight on the current market rate. Nevertheless, the triangle idea is still valid as well as the impulsive count and the outlook is still bullish. Please remember that any breakout below the level of 135.68 will invalidate the main count (wave b green triangle) and put the alternative count ( wave -iv- triangle) in charge. Any new low bellow the level of 133.76 invalidates both counts.

Support/Resistance:

133.76 - Swing Low

135.68 - Intraday Support

136.03 - Weekly Pivot

137.52 - Intraday Resistance

138.04 - WR1

Trading recommendations:

Daytraders should refrain from trading until next week due to the fundamental factors based on Greek referendum on Sunday.

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