empty
 
 
04.12.2012 11:36 AM
EurJpy Tests Resistance Around 107.50-108.00

This image is no longer relevant

Technical Outlook and Chart Setups:

As depicted here, prices are more or less in the same trading range, just ahead of 108.00. Furthermore, the Fibonacci 0.786 level retracement of the entire fall from 111.00 level is passing through the same region. Immediate resistance is at 108.00 and then followed by 111.00; support begins from 105.20 followed by 104.00 and 100.50 respectively. It is recommended to sell intraday rallies through the 107.50 region. In the short term we are looking lower.

Trading Recommendations:

Hold on to short positions taken earlier. Sell intraday rallies towards 107.50. Stop is at 108.00. Target is at 104.50.

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