Trading Conditions
Products
Tools
EUR/JPY has declined nicely and is currently testing the B-wave triangle support-line near 127.70. We expect this support will be broken for a continuation lower to the long-term target near 123.61, which should complete the 10 year long triangle consolidation.
In the short term a clear break below the triangle support at 127.70 confirms wave C lower is evolving. The first minor target to aim for is seen at 126.61 and then 125.19 on the way lower to the long-term ideal target at 123.61.
R3: 128.91
R2: 128.56
R1: 127.96
Pivot: 127.70
S1: 127.22
S2: 126.61
S3: 126.08
Trading recommendation:
We are short on EUR from 128.05 and we will lower our stop to 128.65.
InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.