empty
 
 
05.11.2012 03:06 PM
EurJpy Bouncing Off From 102.50 Level

This image is no longer relevant

Technical Outlook and Chart Setups:

The single currency pair took off stops placed at breakeven levels on Friday, followed by the NFP release. At the moment it is bouncing off the 0.786 Fibonacci support around 102.50 region. Please watch out for another 4-6 hours for a possible low formation at these levels to go long again. Intermediary support comes in just above the 102.00 level, while resistance is at 104.20/25 region. If 102.00 breaks, then the 101.85 level shall offer a support; it is also reinforced by the Fibonacci 0.618 of the upswing boundary in the range 100.00 to 105.00.

Trading Recommendations:

Flat for now, look to enter buying of 4H bullish signals around 102.50 region.

Good Luck!

Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • 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 $9000 more!
    In May we raffle $9000 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
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 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