empty
 
 
23.11.2012 11:03 AM
EurJpy Hits 106.50 Level, 108.00 Should Be Next Target

This image is no longer relevant

Technical Outlook and Chart Setups:

Yet another day, yet another rally; the single currency pair is rapidly hitting resistance and targets. As depicted above, the next lined up target is 108.00 level and there is 111.00 level above it. Intermediary support should be provided by 104.50/60 levels now, which is also the resistance turned support as shown above. It is recommended to wait for intraday dips to again re-enter buying; also please note to book partial profits at each target. It seems bulls are now targeting 108.00 level before a meaningful pullback occurs. Please restrain from buying aggressively at current levels, always buy on intraday dips.

Trading Recommendations:

Hold on to long positions taken earlier, stop at 104.00, and target is at 108.00.

Good Luck!

Summary
Urgency
Analytic
InstaForex Analyst
Start trade
Gagnez sur les variations du cours des cryptomonnaies avec InstaForex.
Téléchargez MetaTrader 4 et ouvrez votre première transaction.
  • 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