Technical outlook and chart setups:
1. The EUR/JPY pair remains subdued at 137.00 levels for now. The pair needs to push through at least 138.00 levels to at least confirm a retracement/pullback. Recommendations for now, is to remain short with risk at 138.00 levels.
2. Support is seen at 135.80, followed by 134.00 and lower, while resistance is seen at 138.00, followed by 139.20, 140.00 and higher respectively.
3. The structure indicates that EUR/JPY shall remain bearish till 138.00 remains intact.
Trading recommendations:
Remain short for now, stop above 138.00, 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 Aug 19, 2014 . Thanks for your support on Technical analysis of EUR/JPY for Aug 19, 2014
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