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23.08.2013 08:07 AM
EUR/JPY technical analysis for August 23, 2013

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Yesterday, the strong resistance on the EUR/JPY has been already breached by this pair, for today seems the 132.00 level will be tested by this currency pair because we have got confirmation by all the three Moving Averages already form a "Golden Cross" formation pattern. This pattern will be the indication for the EUR/JPY which have a strong and healthy uptrend situation already.

RECOMMENDATION:

BUY Stop (Pending Order) at 132.26.

Take Profit at 132.40.

Stop Loss at 132.16.

 

Best regards,

Arief Makmur

Official Analyst of InstaForex Group

InstaForex Group

http://instaforex.com

Email : [email protected]

Yahoo Messenger & Skype : Arief.ifx_jakarta

blog.mt5.com/arief

http://www.mt5.com/forex_analysis_award/profile/index/arief

Disclaimer :

Trading Forex (foreign exchange) on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.

 

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