empty
 
 
12.12.2014 02:54 AM
Technical analysis of EUR/JPY for December 12, 2014
This image is no longer relevant

 Technical outlook and chart setups:

The EUR/JPY pair had broken the immediate trend line support yesterday and was expected to rally back into the 148.00 levels, that is resistance. Please also note that the pair is facing resistance from the back side of the past trend line support around the same region. A push below 147.00 levels from here could confirm that the pair is indeed set for a deeper correction lower. The outer trend line support is passing through the 143.00 region for now which could provide support if prices reach there. Immediate price support is seen at 145.00 levels, followed by 145.00 and lower while resistance is seen at 148.00/20 levels, followed by 149.80 levels respectively.

Trading recommendations:

Remain flat for now.

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