Technical Outlook and Chart Setups:
The single currency pair came a little bit lower (102.10/20), than we had expected and discussed yesterday (101.50). Furthermore, the pair has produced a Morning Star pattern. It indicates that a bullish bounce is possible at least for a short-term period, towards 102.50 level if not higher. Therefore, it is recommended to buy intraday dips, at least keeping the short-term view in mind. Good support shall be provided around 100.00 region, while intermediary resistance is at 102.20/30 levels. Look higher from here.
Trading Recommendations:
Buy intraday dips (101.30/40). Stop at 100.75. Target 102.50.
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 Reacts Around 101.30/50 Levels. Short Term Buying Opportunity Persists. . Thanks for your support on EurJpy Reacts Around 101.30/50 Levels. Short Term Buying Opportunity Persists.
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