For Traders

Analytical Reviews

Wave analysis

22.07.201607:47 Forex Analysis & Reviews: Technical analysis of EUR/JPY for July 22, 2016

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 22/07/2016:

The top for the wave b has been established at the level of 118.38, and now the market should start to develop one more wave to the downside in order to complete the whole structure in wave b green. The projected target for wave c of wave b green is at the technical support at the level of 114.81. Please notice that the wave b might still evolve into a more complex and time-consuming pattern.

Support/Resistance:

122.91 - WR2

122.67 - Technical Resistance

120.11 - WR1

118.40 - Intraday Resistance

115.54 - Weekly Pivot

115.48 - Intraday Support

114.75 - Technical Support

112.85 - WS1

110.83 - Technical Support

Trading recommendations:

Due to the unclear outlook, investors should refrain from trading and wait for a better trading setup to occur shortly.

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.