empty
 
 
09.04.2012 10:48 AM
EUR/JPY Intraday Technical Analysis

This image is no longer relevant
 

The spot rate is presently testing the lower limit of its medium term bearish channel in 106.00 indicating a prospect a rebound. However, a breakdown of these levels will reveal significant potential entailing a bearish channel more violent.

Technical indicators provide signals for Buy-deals and approaching the oversell zone confirms the possible rebound. Bollinger bands have greatly tightened in recent days showing a decline in volatility and the imminence of a violent movement.

According to previous events, the market indicates a bullish opportunity on the levels of 106.00 with  1st objectives 106.60 and 106.80. A breakdown in 105.80 will cancel the possible this scenario.

InstaForex Analyst,
Analytical expert of InstaForex
© 2007-2026
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 $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
  • 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