EURJPY still range bound. Support is at 141.00 Trend News

Technical outlook and chart setups:

We took a closer look at the 4H chart. As seen here, the currency pair has been trading in a range of support (141.00) and resistance (142.70/80) for several sessions now. At the moment, short positions have been taken and it still recommended to remain short with risk just above 143.00. A breakout on the north side would however warrant further upside potential, and it would be advisable to flip to long positions above 143.00 levels. On the other hand, a break down of 141.00 would be extremely bearish and push prices to atleast 139.00 levels. Further support levels are 138.50, 137.00 and 134.00 respectively.

Trading recommendations:

Existing short positions could be held with a stop above 143.00. Fresh positions should be taken only upon a breakout to either side.

Good luck!

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



For detail explanation and best discovery on market trends you may visit via EURJPY still range bound. Support is at 141.00 . Thanks for your support on EURJPY still range bound. Support is at 141.00