Technical Outlook and Chart Setups:
A 4H view is presented here. 107.90/108.00 levels seem to be resistance. It is recommended to hold short positions for now, rather than going long. On the event of 108.00 breaking higher, long positions could be considered only after a technical pullback is materialized. Support levels are spread across 105.00 through 104.00 and followed by 100.00 on the lower side. Buying is recommended when prices re-trace support levels. Please remain flat if the stop is triggered on the short positions taken earlier.
Trading Recommendations:
Stay short for now, stop is at 108.00. Target is at 104.50.
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 Rallies Through 107.90. Wait For A Retracement To Re-enter Buying . Thanks for your support on EurJpy Rallies Through 107.90. Wait For A Retracement To Re-enter Buying
No comments:
Post a Comment