empty
 
 
10.01.2013 10:31 AM
EurJpy On The Verge Of A Bullish Breakout. Above 115.20/30 Will Confirm

This image is no longer relevant

Technical Outlook and Chart Setups:

A 4H view has been presented here to have a closer look at the pennant structure which has been formed since several trading sessions and a possible breakout. As depicted here, one can clearly observe a decreasing resistance (116.00... 115.50...) and constant support (113.50/60) type pennant/sideways movement development. The prices are currently testing the upper boundary of the structure at the moment near 114.90/115.00 levels. A break higher would certainly push the prices to the next resistance level at 118.00; while a bearish formation would again bring it down to 113.50/60 levels. It is recommended to buy fresh on a break higher, and sell on a test and reversal.

Trading Recommendations:

Hold on to long positions taken earlier, stop is at 113.00, and target is at 117.90/118.00.

Good Luck!

Summary
Urgency
Analytic
InstaForex Analyst
Start trade
通过InstaForex赚取加密货币汇率变动的收益。
下载MetaTrader 4并开启您的第一笔交易。
  • 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 $6000 more!
    In December we raffle $6000 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
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

推荐文章

现在无法通话?
提出您的问题,用 在线帮助.
Widget callback