Technical outlook and chart setups:
1. The EUR/JPY remains structurally unchanged for now. It is recommended to remain short for now, risk remains at 143.00/50. Trend line support is at 135.00 for now.
2. Immediate resistance is at 143.50, followed by 145.50, while supports are spread through 136.00 (intermediary), followed by 134.00/135.00 and 131.00 respectively.
3. The structure indicated that till the time prices are below 145.50, bears should remain in control and a push towards 134.00 or even lower levels remain possible.
Trading recommendations:
Remain short for now, stop is at 143.50, target is open.
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 February 20, 2014 . Thanks for your support on Technical analysis of EUR/JPY for February 20, 2014
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