empty
 
 
03.08.2012 11:11 AM
EUR/JPY Intraday Technical Analysis

This image is no longer relevant
 

 

During this week the spot rate was evolving between the intermediate support of its medium term bearish channel at 95.50 and the upper limit of this one at 97.00. Yesterday it broke its support leading to acceleration. A pull back is expected before reach the lower limit of its channel to 93.80.
Technical indicators provide sell signals but it is normal in regard of the violent movement observed yesterday. However, they are approaching oversell zone supporting the assumption of a pull back. We can note that the break of yesterday was made with important volumes limiting the risks of false signals. Bollinger bands have greatly tightened in recent days showing a decline in volatility and the imminence of a violent movement.
We support the assumption of a pull back and recommend to sell the spot rate on the levels of 95.50 with the 1st objective of 94.90 and then at 94.70. A breakthrough 95.70 will invalidate this scenario.

InstaForex Analyst,
Especialista em análise na InstaForex
© 2007-2026
Summary
Urgency
Analytic
InstaForex Analyst
Start trade
Ganhe com as variações das taxas das criptomoedas com a InstaForex.
Baixe o MetaTrader 4 e abra a sua primeira operação.
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    PARTICIPE DO CONCURSO
  • Chancy Deposit
    Deposite US $ 3.000 em sua conta e receba $10000 mais!
    Em Janeiro nós sorteamos $10000 na campanha Chancy Deposit!
    Tenha a chance de ganhar, depositando $3,000 em sua conta de negociação. Após cumprir essa condição, você se torna um participante da campanha.
    PARTICIPE DO CONCURSO
  • Trade Wise, Win Device
    Abasteça a sua conta com pelo menos $500, inscreva-se no concurso e tenha a chance de ganhar dispositivos móveis.
    PARTICIPE DO CONCURSO
  • Bônus de 30%
    Receba um bônus de 30% toda vez que você fizer um depósito em sua conta
    RECEBA O BÔNUS

Recommended Stories

Não pode falar agora?
Faça sua pergunta no chat.
Widget callback