empty
 
 
14.01.2013 10:42 AM
EurJpy Prints Higher Highs. 121.00 Is The Next Reistance

This image is no longer relevant

Technical Outlook and Chart Setups:

A Daily Chart view has been depicted here for larger Fibonacci extension view. The single currency pair has extended rally further above 118.00 level in a considerable way. The next Fibonacci extension/resistance level is at 121.00 level, which also coincides with a past resistance on a weekly chart. Longer timeframe support is at 114.00 level now, while immediate support is at 118.00 at the moment. It is recommended to wait for a pullback on smaller timeframes before entering into fresh long positions. 118.00/50 are recommended buy prices for intraday dips.

Trading Recommendations:

Flat for now. Wait for intraday dips for building fresh long positions to target 121.00 level.

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