empty
 
 
19.01.2016 05:39 AM
Technical analysis of EUR/JPY for January 19, 2016.

This image is no longer relevant

Technical outlook and chart setups:

TThe EUR/JPY pair might be forming a base around levels of 127.90/128.00 now before resuming its rally towards at least 134.50. Also note that the pair has found support at Fibonacci 0.88 levels, of an entire rally between 126.00 and 141.00 respectively. The bullish reversal here would still keep the wave structure intact and the pair could resume uptrend. Immediate support is found at 126.00, while resistance is seen at 132.50 followed by 134.50 and higher levels. Bulls are expected to remain in control until prices stay above 126.00.

Trading recommendations:

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

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