empty
 
 
02.04.2015 01:44 PM
Technical analysis of EUR/JPY for April 02, 2015

This image is no longer relevant

Technical outlook and chart setups:

The EUR/JPY pair is seen to be trading between channel resistance and past resistance turned into support line at the moment. The pair is facing channel resistance around the levels of 129.45 and could possibly turn lower again. It is hence recommended to fix profits on the long position initiated yesterday. Immediate support is seen at the levels of 128.00 followed by 127.00 and lower, while resistance is seen at the levels of 130.40/50 followed by 131.40/50 and higher, respectively. The pair needs to break out of the channel resistance line clearly to confirm that bulls are back in control again.

Trading recommendations:

Fix profits on long positions and remain flat for now.

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 $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