empty
 
 
28.05.2014 08:41 AM
Technical analysis of EUR/JPY for May 28, 2014
This image is no longer relevant

Technical outlook and chart setups:

1. The EUR/JPY pair is pulling back at the moment after printing 139.20/30 highs recently. Maximum downside is seen to be around 138.50/60 where a reaction could be expected and bulls could possibly resume. Recommendations are to remain long. risk remains below 138.00.

2. Support is seen at 138.00 (interim), followed by 136.00, 134.00 and lower, while resistance is seen at 141.00, 142.50/143.50, 144.00 and 145.50 respectively.

3. The structure indicates that EUR/JPY could resume rally towards 141.50/ 142.50 at least if not further.

Trading recommendations:

Remain long for now, add further around 138.50/60, stop at 138.00, target is open.

Good luck!


Summary
Urgency
Analytic
InstaForex Analyst
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