empty
03.12.2012 01:54 PM
EurJpy Resistance Stays At 108.00

This image is no longer relevant

Technical Outlook and Chart Setups:

As depicted here, the single currency pair has stalled at the 0.786 resistance level of 107.60/70 at the moment. Structurally, it is quite possible for a retracement/pullback to materialize towards at least 104.00/50 levels. Please note 108.00 is key resistance now, followed by 110.00, while support will be provided by 104.00 level followed by 103 and 101 respectively. It is recommended to sell rallies through 107.50/70 level for now. A break higher of 108.00 levels will delay the bearish scenario.

Trading Recommendations:

Stay short for positions taken earlier. Stop is at 108.00. Target is open.

Good Luck!

Select timeframe
5
min
15
min
30
min
1
hour
4
hours
1
day
1
week
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

Recommended Stories

AUD/JPY. Analysis and Forecast

On Tuesday, the AUD/JPY pair showed confident growth, reaching a nearly four-month high following the Reserve Bank of Australia's (RBA) unexpected decision to keep interest rates unchanged. At the same

Irina Yanina 12:41 2025-07-08 UTC+2

Forecast for EUR/USD on July 8, 2025

On Monday, the EUR/USD pair continued a mild downward movement. After reaching the 127.2% retracement level at 1.1712, the pair neither rebounded nor consolidated. Therefore, the 1.1712 level should

Samir Klishi 12:24 2025-07-08 UTC+2

Forecast for GBP/USD on July 8, 2025

On the hourly chart, the GBP/USD pair traded sideways on Monday, and traders began to ignore the 1.3611–1.3633 level. At the moment, we cannot say whether the price is rebounding

Samir Klishi 12:18 2025-07-08 UTC+2

Will Divergence in RSI bring weakness to Crude Oil? Tuesday, July 8, 2025.

Crude Oil – Tuesday, July 8, 2025 The surge in Crude Oil production from OPEC raises concerns about excessive supply flooding the world market and the possibility of weakening global

Arief Makmur 08:59 2025-07-08 UTC+2

Could the weakening that occurred in Fiber be temporary? Tuesday, July 8, 2025.

EUR/USD – Tuesday, July 8, 2025 Data from the Eurozone that is starting to improve and signals of Dovish policy from The Fed provide an opportunity for EUR/USD to strengthen

Arief Makmur 08:59 2025-07-08 UTC+2

EUR/USD Forecast for July 8, 2025

On Monday, the euro declined by 71 pips, testing the support at 1.1692. As anticipated, the price did not attempt to break through the MACD line immediately but chose instead

Laurie Bailey 06:14 2025-07-08 UTC+2

GBP/USD Forecast for July 8, 2025

GBP/USDAmid yesterday's 0.56% rise in the U.S. dollar index, the British pound declined by 0.20% (-51 points). The price moved further away from the 1.3635 level, while the Marlin oscillator

Laurie Bailey 05:56 2025-07-08 UTC+2

AUD/USD Forecast for July 8, 2025

AUD/USDWith support from the U.S. dollar (USDX +0.56%), the Australian currency became the day's top decliner (-0.69%, -61 points), as markets await today's expected Reserve Bank of Australia rate

Laurie Bailey 05:50 2025-07-08 UTC+2

XAU/USD. Analysis, Forecast, and Current Market Situation

Gold is maintaining a bearish intraday tone today.Oscillators on the daily chart are just beginning to show negative momentum, indicating the potential for further declines in the metal's price

Irina Yanina 12:50 2025-07-07 UTC+2

Forecast for EUR/USD on July 7, 2025

On Friday, the EUR/USD pair traded very weakly, with trader activity extremely low due to the U.S. Independence Day. As a result, no trading signals, important breakouts, or other chart

Samir Klishi 11:48 2025-07-07 UTC+2
Can't speak right now?
Ask your question in the chat.
Widget callback
 

Dear visitor,

Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.

If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.

Why does your IP address show your location as the USA?

  • - you are using a VPN provided by a hosting company based in the United States;
  • - your IP does not have proper WHOIS records;
  • - an error occurred in the WHOIS geolocation database.

Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaForex anyway.

We are sorry for any inconvenience caused by this message.