Technical Outlook and Chart Setups:
The single currency pair is finding tough to sustain 107.00 level and push higher towards 108.00 at the moment. Though price action towards 108.00 cannot be ruled out, it is recommended to book profits on all or maximum long positions taken earlier. Intermediary resistance seems to be building at 107.00 level now, followed by the 108.00 level, while supports are lined up as follows, 105.60, 104.00, 103.00, and 100.50. A pullback towards at least 104.00 level is quite possible before the next move is decided.
Trading Recommendations:
Book profits on all or maximum long positions taken earlier, flat for now.
Good Luck!
The material has been provided by Instaforex Company - instaforex.com
For detail explanation and best discovery on market trends you may visit via EurJpy Indicates A Pullback. Book Profits On Long Positions . Thanks for your support on EurJpy Indicates A Pullback. Book Profits On Long Positions
No comments:
Post a Comment