Intraday trading recommendations for EUR/JPY for September 15, 2014

The pair successfully closed in the broken triangle, made a higher close. The pair opened today with a green tick, as of now, today it has been unable to breach the previous day’s high. On the upside, the pair has a strong resistance zone between 139.18-139.25 levels. We recommend fresh buying only above these levels. In the near term, the upper end on the triangle is the major resistance. A breach above that, we can see a sharp run up towards 139.80-140 odd level. On the down side, it has support at 138.34 and 137.30.

For an intraday basis, the prices are closed above hourly key moving averages. The pair has support at 138.65, below this, 138.40, 138 and 137.70 levels.

The material has been provided by InstaForex Company – www.instaforex.com

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