Technical outlook and chart setups:
1. The EUR/JPY is stalling around 139.00 levels at the moment, which is also fibonacci 0.50 resistance as seen here. A push above 139.00 here, would test the 139.30/40 levels which is fibonacci 0.618 resistance and trend line confluence.
2. Support is around 137.70/75, followed by 136.50, 134.00 and lower, while resistance is at 139.30/40, followed by 140.00, 141.00 and higher up respectively.
3. The structure indicates that EUR/JPY should be in control of bears until prices remain below 140.00.
Trading recommendations:
Remain flat for now. Look to sell the rally around 139.20/30.
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 June 26, 2014 . Thanks for your support on Technical analysis of EUR/JPY for June 26, 2014
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