empty
 
 
22.10.2013 08:26 AM
EURJPY attempting to test the resistance level of 135.00.

This image is no longer relevant

Technical outlook and chart setups:

The currency pair is attempting to retest the resistance at 135.00, as depicted here. Aggressive trade setup is still to remain short with risk placed above 135.00 for now. Intermediary support remains at 131.00, followed by 129.00/128.00 and 125.00; while resistance remains at the 135.00 levels respectively. The overall undertone remains very much bullish till the time prices remain above 131.00, but a possible correction cannot be ruled out either. If prices manage to push ahead of 135.00 from here, the next higher extensions are pointing towards 136.00 and higher. Looking into the structure, the short-term bearish view holds till prices are below 135.00.

Trading recommendations:

Aggressive setup is to remain short for now, stop is above 135.00, target is open.

Good luck!

Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $9000 more!
    In May we raffle $9000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback