Technical outlook and chart setups:
1. The 4H chart depicts here clear indications that the trading range between 141.00 and 142.00 continues for now. As seen here, a bearish evening star signal has just appeared around the 142.80 level.
2. It is recommended to remain short for now, risk remains just above 143.00. Resistance is at the 143.00 level, while support is at 141.00 respectively. Prices are expected to fall back towards 141.00 if the trading range continues.
3. On the other hand, a break above 143.00 would warrant a bullish break towards 145.00 and higher.
Trading recommendations:
Remain short for now, stop is at 143.10, target is at 141.00.
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 Technical analysis of EUR/JPY for December 24, 2013 . Thanks for your support on Technical analysis of EUR/JPY for December 24, 2013
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