empty
 
 
18.09.2012 03:13 PM
EurJpy Pullback Is Expected

This image is no longer relevant

 

Technical Outlook and Chart Setups:

Another risk trade was taken and another stop got triggered yesterday. As depicted above, prices still seem to be stalling at the levels of resistances, being converged near 102.70/80 levels. An engulfing bearish candle is under formation on the Daily Charts and we would wait for confirmation on closing basis for the bearish signal to complete. This pullback may potentially bring prices down to at least 101.00 and may extend lower to 97.00-98.00 levels before the rally resumes.

Trading Recommendations:

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 $10000 more!
    In January we raffle $10000 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