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 Technical analysis of EUR/JPY for September 4, 2014 By Instaforex

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painofhell

painofhell

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PostSubject: Technical analysis of EUR/JPY for September 4, 2014 By Instaforex   Technical analysis of EUR/JPY for September 4, 2014 By Instaforex Icon_minitimeThu Sep 04, 2014 11:20 am

General overview for 04/09/2014 09:50 CET 
Not much has changed since yesterday as the market is in corrective cycle labled by blue wave (b) and it is about to complete blue wave (c) to the upside. Then, the first leg of a complex corrective structure will be completed but any breakout below the level of 136.48 invalidates this bullish scenario. 

Trading recommendations: 
As the impulsive bearish count has been invalidated, the short orders are not really the best way to play this market now as the buying the dips provides more opportunities to make profits. Targets on chart(s).
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