Technical outlook and chart setups:
The single currency pair is still within the decreasing resistance, increasing support triangle formation as depicted here. It is recommended to initiate short positions again around the 130.00 mark, or on a break of 126.00. Intermediary support is at 125.00 region and a break lower would accelerate downfall towards 123.00/124.00 levels further. Till the time prices remain within the cone structure, a rally towards 130.00 level still remains possible before final reversal. As seen here, major support is at 119.00 level, while resistances are at 103.00/50 and 131.00 respectively. Looking lower below 130.00/50; sell rallies from here on.
Trading recommendations:
Look to enter short again between 129.50 and 130.00 levels.
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 remains bearish below 130.00/50. Prepare to go short again . Thanks for your support on EurJpy remains bearish below 130.00/50. Prepare to go short again
No comments:
Post a Comment