FX.co ★ Technical analysis of EUR/JPY for September 26, 2016

General overview for 26/09/2016:

The first wave upward from the low at the level of 112.06 may be labeled as impulsive, so now the market is in internal corrective sub-cycle. The key level for bulls is the intraday support at 112.60. The correction should be completed before the price reaches this level.

Support/Resistance:

112.06 - Intraday Support

112.24 - WS1

112.60 - Intraday Support

113.30 - Weekly Pivot

113.61 - Intraday Resistance

114.54 - WR1

115.63 - WR2

Trading recommendations:

Day traders should consider opening buy orders from the current price levels with SL just below the level of 112.60. TP should be left open for now.