Technical analysis of EUR/JPY for June 25, 2014 Trend News

General overview for 25/06/2014 10:00 CET

Still, the market moves in neutral zone and the key level for any upside confirmation is at the level of 138.91, where the bullish zone starts. Please notice that the red trendline is providing dynamic support for the price so far and only a breakout below the weekly pivot and then below the intraday support at the level of 138.27 is bearish. Otherwise, the price might trade in the yellow range zone for some time.

Support/Resistance:

137.34 - WS2

137.70 - Technical Support

138.18 - WS1

138.27 - Intraday Support

138.53 - Weekly Pivot

138.91 - Intraday Resistance

139.36 - WR1

139.71 - WR2

Trading recommendations:

Sell stop positions opened yesterday have the SL above the level of 138.88 and any breakout higher should be considered to be bullish and buy positions should be open with TP at the level of 139.36 and 139.71.

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



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