FX.co ★ Technical analysis of EUR/JPY for November 28, 2014

General overview for 28/11/2014 10:00 CET

The market is still in more extended corrective cycle as the suggested triangle shape has not been completed yet. Any breakout above the intraday resistance at the level of 147.37 is bullish and any breakout below the intraday support at the level of 146.27 is bearish.The bias is still slightly bullish as the corrective cycle has not been finished yet.

Support/Resistance: 

149.14 - Swing High

148.50 - Intraday Resistance 

147.98 - WR1

147.37 - Intraday Resistance

146.27 - Intraday Support

146.38 - Weekly Pivot

145.67 - Technical Support

145.84 - Intraday Support 

Trading recommendations:

Still the buy order recommended at the beginning of the week should be kept open and SL should be placed below the intraday support at the level of 146.28 and TP level in longer term should aim for the level of 147.98 and 149.14. Breakout below the level of 146.28 invalidates any other buy trade possibility.