empty
 
 
25.09.2013 03:04 PM
EurJpy consolidating. 131.75 support

This image is no longer relevant

Technical outlook and chart setups:

The single currency pair is consolidating/forming base at the following convergence depicted on chart view:

1. Recent support trend line.

2. Fibonacci 0.618 retracement of the latest upswing around 132.50.

3. Past resistance turned support region.

A bullish reversal signal appearance here, would warrant that the pair is heading towards fresh highs above 135.00 level. Immediate support is at 131.75, while resistance is at 134.80/135.00 respectively. Looking for a bullish reversal.

Trading recommendations:

Remain long, stop is at 131.50, and target is open.

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