Technical analysis of the EUR/JPY on Jan. 13, 2014 INDRA-DAY 5 MINUTES CHARTS
SUPPLY in the area, which is described in all of last week has offered a good resistance and, finally, the market is broken to the downside. At the moment, is going to be pretty tight golden channel and investors should expect further price upside to the downside of the continuation or the channel breakout attempt. In the latter case, the next resistance level would be a little bit shy and 142.00 142.15, on a weekly basis at the level of the Pivot diagram levels. On the other hand, is a technical support levels within the zone and this area is 140.83 141.52 vow to support more price declines in perspective.
Support/resistance:
141.74-WR3
143.93-WR2
143.06-WR1
142.25-Weekly Pivot
141.56-Intraday resistance
141.42-WS1
141.22-Intraday support
26.27-WS2
Trading recommendations:
When the Golden channel breakout upward, buy stop orders should be in play for the entry level 141.56, SL and TP 142.00 141.19 below the level.
SUPPLY in the area, which is described in all of last week has offered a good resistance and, finally, the market is broken to the downside. At the moment, is going to be pretty tight golden channel and investors should expect further price upside to the downside of the continuation or the channel breakout attempt. In the latter case, the next resistance level would be a little bit shy and 142.00 142.15, on a weekly basis at the level of the Pivot diagram levels. On the other hand, is a technical support levels within the zone and this area is 140.83 141.52 vow to support more price declines in perspective.
Support/resistance:
141.74-WR3
143.93-WR2
143.06-WR1
142.25-Weekly Pivot
141.56-Intraday resistance
141.42-WS1
141.22-Intraday support
26.27-WS2
Trading recommendations:
When the Golden channel breakout upward, buy stop orders should be in play for the entry level 141.56, SL and TP 142.00 141.19 below the level.
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