empty
 
 
17.11.2011 04:39 PM
Fundamental Analysis, November, 17 / 2011

This image is no longer relevant

Technical outlook and charts setups:

1. The EUR/JPY is just seen to be breaking out of consolidation support line around the 140.50/60 levels as seen here. A push below 140.00 levels would accelerate downside further. Any intraday/interday rally should be well capped below 143.00 levels (consolidation resistance). It is recommended to remain short, risk remains 144.00.

2. Support is at 140.00, followed by 138.50, 136.00 (all intermediary), 134.00 and lower, while resistance is at 143.00, followed by 143.50/70, and 145.50 respectively.

3. The structure indicates that the EUR/JPY remain under pressure for now and a subsequent break below the 140.00 levels, should be further bearish. A larger 3 wave correction is possible towards 130.00 levels.

Trading recommendations:

Remain short, set stop at 144.00, target is open.

Good luck!

InstaForex Analyst,
Analytical expert of InstaForex
© 2007-2025
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