empty
 
 
14.08.2012 10:14 AM
EUR/JPY Intraday Technical Analysis

This image is no longer relevant
 

 

The spot rate bounced off to the lower limit of its medium term bullish channel at 95.80 and approaches now to the intermediate resistance of this one at 97.50 suggesting a decline. However, a break through these levels will release good potential and reach the upper limit of this one to 98.60.
Technical indicators provide buy signals but approach overbuy zone supporting the assumption of a decline. Nevertheless, until the resistance is not broken, the hypothesis of a decline is most likely. Bollinger bands have greatly tightened in recent days showing a decline in volatility and the imminence of a violent movement. Furthermore, the spot rate is currently breaking the superior band suggesting acceleration in short term.
We recommend to buy the spot rate as soon as is broken through its resistance of 97.50 with the 1st objective at 98.10 and then at 98.60. A breakthrough 97.30 will invalidate this scenario.

InstaForex Analyst,
Analytical expert of InstaForex
© 2007-2026
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 $10000 more!
    In January we raffle $10000 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