empty
 
 
30.03.2012 10:15 AM
EUR/JPY Intraday Technical Analysis

This image is no longer relevant
 

The spot rate is presently testing the upper limit of its medium term bearish channel in 109.70 and is expected to begin a decline. However, a breakdown of these levels will reveal significant potential and result in the beginning of a bullish trend.

Technical indicators provide signals for Buy-deals but as long as the resistance is  unbroken, the pair is most likely to decline. Bollinger bands have greatly tightened in recent days showing a decline in volatility and the imminence of a violent movement.

Proceeding from the previous events, the market indicates a bullish opportunity as soon as the spot rate will has broken its resistance in the point 109.70 with 110.30 and 110.50 seen as first objectives. A breakdown in 109.50 will reverse this scenario.

InstaForex Analyst,
Analytical expert of InstaForex
© 2007-2026
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 $1000 more!
    In April we raffle $1000 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