empty
 
 
12.11.2012 12:13 PM
EurJpy Rally May Gather Pace Towards 102.50 Level

This image is no longer relevant

Technical Outlook and Chart Setups:

As it is depicted above, the structure remains quite unchanged from last Friday. It is expected that a rally should materialize soon, giving much awaited break into the over stretched charts. Minimum expectations are towards 102.50/60 levels as shown above. It is recommended to build long positions as close to 100.50-101.00 levels to take advantage of the relief/counter trend rally. Immediate support is at 100.00 level, while Fibonacci resistance begins from 101.50 and extends through 102.50/60. Look higher for short term at least.

Trading Recommendations:

Long now, stop at 100.00 (or just below that), target at 102.50/60 minimum.

Good Luck!

Summary
Urgency
Analytic
InstaForex Analyst
Start trade
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 $6000 more!
    In December we raffle $6000 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