Today's Support and Resistance Levels:
Support Resistance
1: 96.37 1: 97.31
2: 96.11 2: 97.96
3: 95.57 3: 98.13
Technical Overview:
We are hovering just above support at 96.37, as long as this support is not broken clearly to the downside we still could see a new rally higher towards the ideal corrective target at 97.96. From 97.96 or upon a clear break below 96.37 we will expect that last decline in blue wave v down towards the ideal target near 94.58, which should terminate the entire decline since 111.43 and cause a nice big rally back to 101.62 as the first upside target.
Trading Recommendation:
Sell EUR against JPY at 97.90 or upon a clear break below 96.37 (sell at 96.25) with a 98.75 stop. Take profit at 94.75
