empty
 
 
29.01.2014 10:19 AM
Technical analysis of EUR/JPY for January 29, 2014

General overview for 29/01/2014 07:30 CET

The price has hit a very important technical resistance level indicated yesterday and now a rejection or breakout is possible. Current count does suggest, that the upside wave progression is in only three waves so far and there is one more to the upside missing. Therefore, in case of upside breakout, the next level of resistance is a supply area between the levels of 141.62 - 141.76. Please notice the golden descending trend line is just above this area. It might provide further resistance as well. On the the hand, in case of a downside break, the first level to look at is intraday support at the level of 140.86 and red trend line support as well. A breakout to the downside at the level would indicate that weekly pivot might be tested again.

Support/Resistance:

141.76 - 141.62 - Supply Zone

141.24 - WR1

141.02 - Key Level

140.80 - Intraday Support

140.16 - Weekly Pivot


Trading recommendations:

As long as the level of 141.24 provides the resistance, short positions should be opened with SL above the level of 141.26 and TP at the level of 140.86 and 140.16.

This image is no longer relevant

Summary
Urgency
Analytic
Sebastian Seliga
Start trade
Gana con los cambios en el valor de las criptomonedas con InstaForex.
Descarga MetaTrader 4 y abre tu primera operación.
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    UNIRSE AL CONCURSO
  • Depósito al azar
    ¡Haga un depósito en su cuenta de $3,000 y obtenga $6000 más!
    ¡En Diciembre, sorteamos $6000 dentro de la campaña Depósito afortunado!
    Obtenga la oportunidad de ganar depositando $3,000 en una cuenta de operaciones. Tras haber cumplido esta condición, se convertirá en un participante de la campaña.
    UNIRSE AL CONCURSO
  • Opere de forma inteligente, gane un dispositivo
    Recargue su cuenta con al menos $500, regístrese en el concurso y tenga la oportunidad de ganar dispositivos móviles.
    UNIRSE AL CONCURSO
  • 30% de bonificación
    Reciba un bono del 30% cada vez que recargue su cuenta
    OBTENER BONO

Recommended Stories

¿No puede hablar ahora mismo?
Ingrese su pregunta en el chat.
Widget callback