empty
 
 
17.07.2014 12:26 PM
Technical analysis of EUR/JPY for July 17, 2014

General overview for 17/07/2014 11.10 CET

The downward impulsive wave progression is unfolding as anticipated and the marked has entered the bearish zone. The intraday key level for bears is the price zone between the levels of 137.48 - 137.62, that will be acting as a technical resistance level. Please, notice that the market is on the level of weekly pivot support and at the level of equal legs geometry, which can be a further clue that the last wave to the downside is now completed. This would mean all the five waves now are in place and an upside corrective cycle might be in progress soon.

Support/Resistance:

136.67 - WS2

137.17 - WS1

137.48 - 137.62 - Technical resistance |key level |

138.00 - weekly pivot

Trading recommendations:

All swing and day traders that had open sell positions should close them now or use the trailing stop in case the last wave 5 purple would be an extended one. In that case, the target would be at the level of 136.67.

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 $10000 más!
    ¡En Enero, sorteamos $10000 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