General overview for 21/09/2016:
Another marginal lower low was hit in this pair after the Bank of Japan interest rate decision. Nevertheless, it looks like the wave c green is now completed as the five wave impulsive structure was terminated at the level of 112.53. This intraday support will be now the key level for the current impulsive count as any break out below it will likely lead to whole impulsive scenario invalidation.
Support/Resistance:
112.36 - WS2
112.53 - Intraday Support
112.92 - WS1
113.41 - Intraday Support
114.00 - Golden Trend Line Support
114.38 - Intraday Resistance
114.49 - Weekly Pivot
115.04 - WR1
116.36 - Local Swing High
Trading recommendations:
Day traders should consider opening buy orders from current price levels with SL just below the level of 112.50 and TP open for now.
