empty
 
 
18.01.2016 03:17 PM
Technical analysis of EUR/JPY for January 18, 2016

This image is no longer relevant

Technical outlook and chart setups:

The EUR/JPY pair has been trading in a range between the levels of 126.75 and 128.75 for the last few sessions. The pair is expected to break above 128.75 and resume its rally towards at least 134.50. Immediate support is seen at 127.00 followed by 126.60 and lower, while resistance is seen at 128.75/129.00. A breakout above 128.75 would accelerate its rally towards higher levels and bulls shall be poised to remain in control until prices stay broadly above 126.60/70. It is hence recommended to remain long now with risk at 126.00. Please note that a push above the levels of 131.00/132.00 would confirm that the pair is headed further north.

Trading recommendations:

Remain long now with stop at 126.00, a target is open.

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