empty
 
 
04.02.2021 10:57 AM
EURJPY broke above trendline resistance! Further rise incoming!

This image is no longer relevant

Price reversed and broke above ascending trendline resistance (now support). A further push up above 1st support at 126.271 towards 1st resistance at 126.523 could be possible. RSI indicator also reacted above support where price bounced in the past.

Trading Recommendation

Entry: 126.271

Reason for Entry:

61.8% Fibonacci retracement, descending trendline support

Take Profit: 126.523

Reason for Take Profit:

-27.2% Fibonacci retracement, Horizontal swing high resistance

Stop Loss: 126.147

Reason for Stop Loss:

Horizontal swing low support

Dean Leo,
Analytical expert of InstaForex
© 2007-2025
Summary
Urgency
Analytic
Dean Leo
Start trade
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 $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

Recommended Stories

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