empty
 
 
08.08.2012 10:26 AM
EUR/JPY Intraday Technical Analysis

This image is no longer relevant
 

As we predicted yesterday, the spot rate bounced off towards the intermediate support of its medium term bullish channel at 96.80 and reached the upper limit of it at 97.90. A decline has probably started, but a break through these levels would free up a significant potential and initiate a more violent bullish trend.
Technical indicators provide sell signals, but until the resistance is not broken, the assumption 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.
Graphical configuration resembles that with the EUR/USD currency pair, so we recommend two options of entering the market. The first one is to use “buy stop” and buy as soon as the spot rate is broken through its resistance of 97.90 with the 1st objective at 98.50. The second option is to try a “sell stop” and sell as soon as the spot rate is broken through its support of 96.80 with the 1st objective at 96.20.

Summary
Urgency
Analytic
InstaForex Analyst
Start trade
Gana con los cambios en el valor de las criptomonedas con InstaForex.
Descarga MetaTrader 4 y abre tu primera operación.
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    UNIRSE AL CONCURSO
  • Depósito al azar
    ¡Haga un depósito en su cuenta de $3,000 y obtenga $10000 más!
    ¡En Enero, sorteamos $10000 dentro de la campaña Depósito afortunado!
    Obtenga la oportunidad de ganar depositando $3,000 en una cuenta de operaciones. Tras haber cumplido esta condición, se convertirá en un participante de la campaña.
    UNIRSE AL CONCURSO
  • Opere de forma inteligente, gane un dispositivo
    Recargue su cuenta con al menos $500, regístrese en el concurso y tenga la oportunidad de ganar dispositivos móviles.
    UNIRSE AL CONCURSO
  • 30% de bonificación
    Reciba un bono del 30% cada vez que recargue su cuenta
    OBTENER BONO

Recommended Stories

¿No puede hablar ahora mismo?
Ingrese su pregunta en el chat.
Widget callback