empty
 
 
31.07.2014 05:31 AM
Technical analysis of EUR/JPY for July 31, 2014
This image is no longer relevant

 Technical outlook and chart setups:

1. The EUR/JPY pair pushes close to 138.00 levels as seen here. Please note that this region is past support turned resistance zone and a bearish reaction/pullback could be expected. However, the 138.20 levels could be optimum to go short again. 

2. Support is seen at 136.40/50 (interim), followed by 136.10/20, 134.00 and lower, while resistance is seen at 138.50, followed by 139.30, 140.00 and higher respectively.

3. The structure indicates that EUR/JPY could continue drifting lower after hitting 138.20 levels though.

Trading recommendations:

Remain flat for now. Look to sell higher.

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 $1000 more!
    In April we raffle $1000 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