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08.09.201509:43 Forex Analysis & Reviews: Technical analysis of EUR/JPY for September 8, 2015

Long-term review

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General overview for 08/09/2015 09:30 CET

The corrective cycle to the upside continues and it can still be labeled as wave c of the wave (iv) green so far. Please notice the invalidation line at the level of 134.68. Any violation of this level invalidates the impulsive green count and makes the level of 132.22 the bottom for wave 5 black.

Support/Resistnace:

132.22 - Local Low

133.50 - Weekly Pivot

133.70 - Intraday Support

134.68 - Green Impulsive Count Invalidation Level

134.80 - WR1

Trading recommendations:

Daytraders consider opening sell orders from the level of 134.68 with SL just above this level (10-15 pips) and TP at the level of 132.22 with a possible downwards extension.

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