empty
 
 
26.06.2015 02:59 PM
Technical analysis of EUR/JPY for June 26, 2015

General overview for 26/06/2015 14:50 CET

The grey rectangle supply breakthrough zone was violated in the last wave down ( -v- blue ) and currently the market is in the corrective abc green cycle. The bias is still bearish and as soon as the correction is completed, the market should resume the downward wave progression to complete another wave down. Only an impulsive breakout above the intraday resistance at the level of 139.25 would invalidate the view.

Support/Resistance:

137.07 - WS2

137.64 - Local Low

137.79 - Intraday Support

137.98 - 138.28 - Supply Breakthrough Zone

138.50 - WS1

139.25 - Intraday Resistance

Trading recommendations:

The sell orders should be still kept open as the wave progression to the downside has not been completed yet. The first target is still at the level of 137.07.

This image is no longer relevant

Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $9000 more!
    In May we raffle $9000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback