empty
 
 
16.12.2015 02:40 PM
Technical analysis of EUR/JPY for December 16, 2015

This image is no longer relevant

Technical outlook and chart setups:

The EUR/JPY pair is testing the resistance trend line around the levels of 133.00/10 for the third time in last few trading sessions. Prices had bounced from the Fibonacci 0.382 support level at 132.50 earlier, but resistance is faced at 133.50. A drop below 132.50 is required to confirm that prices have started moving towards a larger trend and that a meaningful top is in place at 134.50. It is hence recommended to remain short with risk at 134.80. Immediate support is seen at 132.50 followed by 131.00 and lower, while resistance is seen at 134.00 followed by 134.50 and higher.

Trading recommendations:

Remain short with stop at 134.80, a target is 131.00.

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