23.12.201510:43 Forex Analysis & Reviews: Technical analysis of EUR/JPY for December 23, 2015

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 23/12/2015 09:40 CET

The recent upswing looks quite corrective and the whole structure is evolving into a more complex WXYXXZ pattern. This means that one more low will be made below the level of 131.04. Please notice that the invalidation line or the whole structure is seen at the level of 129.65.

Support/Resistance:

134.82 - WR2

134.57 - Swing High

133.11 - WR1

132.76- Intraday Resistance

132.06 - Weekly Pivot

131.04 - Intraday Support

130.68 - WS1

129.65 - Invalidation Level

Trading recommendations:

Day traders should consider placing sell orders from the current market levels with SL above the level of 132.76 and TP at the level of 131.20.

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.