empty
 
 
13.11.2014 05:36 AM
Technical Analysis on EUR/JPY for November 13, 2014

The euro zone's data pushed the prices lower. In September compared to August, seasonally adjusted industrial production rose by 0.6% which is lower than the forecast of 1.0%. The Euro fell against the Yen in yesterday's session. Until the price closes above 144.42 on a daily closing basis, the weakness will persist. As we recommended earlier, on a weekly closing basis if the cross is closed above 143.78, it can challenge new upswing. The cross has been facing strong parallel resistance at 144.84 since January 2014, high above this 145.65 is an open target. In case if the pair breaches the 144.84 resistance level, fresh buying will add for a new target at 145.65 initially. In case if the price corrects below 142.09 levels, we can expect some more correction towards 141.70. In the h4 chart, the cross has been facing strong resistance at 144.10 and 35DEMA 144.20 levels. Risky traders can buy above 144.20 and safe traders can buy above 144.40. On the down side, the intraday support exists at the 143.30 and 143.15 levels. Risky traders can see below 143.30 and safe players can sell below 143.15 with the targets at 142.60 and 142.10 levels.

This image is no longer relevant

InstaForex Analyst,
Analytical expert of InstaForex
© 2007-2024
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 $9000 more!
    In May we raffle $9000 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