Technical analysis of EUR/JPY for January 14, 2014 – MT5.com

Technical analysis of EUR/JPY for January 14, 2014 – MT5.com


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Technical analysis of EUR/JPY for January 14, 2014

General overview for 14/01/2014 07:40 CET

The range indicated yesterday has been broken to the downside as anticipated.

Currently, the main count indicates one more low possibe as long as the level of 142.16 is not violated. If it is, then the level of 140.48 is the low for wave C green.

Please notice that to confirm the upward scenario, the intrady resistance at the level of 141.56 must be broken. In case of failure, the downside target is the level of 140.00.

Support/Resistance:

140.48 – Intraday Support

140.63 – WS2

140.83 – 141.05 – Technical Support Zone

141.42 – WS1

141.56 – Intraday Resistance

142.28 – Weekly Pivot

Trading recommendations:

For intraday scalpers: if the level of 141.56 is broken, then Buy Stop orders should be opened, with SL at the level of 140.99 and TP at the level of 142.04 and 142.28.

Show full picturePerformed by
analytical expert: Sebastian SeligaInstaForex Group © 2007-2014

Published:

2014-01-14 07:53:04 UTC+00 2 weeks, 5 days, 5 hours, 56 min. ago

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Technical analysis of EUR/JPY for January 14, 2014 – MT5.com

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