09.12.201512:17 Forex Analysis & Reviews: Technical analysis of EUR/JPY for December 9, 2015

Long-term review

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General overview for 09/12/2015 11:10 CET

The market is still moving inside a trading range as the wave b of the overall corrective cycle is in progress. In the meantime the 615 Fibo at the level of 134.15 is tested again. If it gets broken, then the next resistance is seen at the level of 134.55.

Support/Resistance:

134.60 - Intraday Resistance

133.52 - Intraday Support

133.06 - 100&FiboExp|Weekly Pivot|

131.56 - WS1

Trading recommendations:

Day traders should refrain from trading and wait for a better trading setup to occur, because current risk to reward ratio is too high for any trade.

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