empty
 
 
08.05.2012 10:03 AM
EUR/JPY Forms Fresh Channel Line Resistance

This image is no longer relevant

 

Technical Outlook and Chart Setup:

As depicted above, the single currency had a rally towards 111.00 levels and broken through the previous resistance line. The fall from 111.00 levels is in the 3rd wave and extensions are pointing towards 102.00 levels. The EUR/JPY pair may rebound from those levels towards the new high above 111.00 levels. Presently a new channel line resistance has been formed and prices are expected to follow the line till downside objectives will have been reached.

Trade Recommendations:

Sell-deals are recommended between 104.00 and 104.50; Stop Loss at 105.50 with 102.00 and 100.50 seen as targets.

 

Best Regards

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 $8000 more!
    In March we raffle $8000 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