FX.co ★ Technical analysis of EUR/JPY for September 27, 2016

General overview for 27/09/2016:

According to the main labeling, the market is in internal corrective sub-cycle and it is still trading between the intraday support and resistance levels. The key level for bulls is the intraday support at 112.60. The correction should be completed before the price reaches this level, and if the main count proves to be correct, new highs wil be anticipated in this market.

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.