09.11.202209:42 Forex Analysis & Reviews: EUR/JPY analysis for November 09, 2022 - Potential for the breakout play

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

Technical analysis:

EUR/JPY has been trading sideways at the price of 146.70. Anyway, I see potential for the upside breakout in the next period.

Trading recommendation:

Due to the trading range in the strong upside trend in the background, I see potential for further upside movement.

Watch for buying opportunities if the price breaks level of 147.00 with the first upside objective at 148.30.

MACD oscillator is showing upside reading, which is good sign that buyers are in control.

Support is set at the price of 145.95

Back to the list

Open trading account

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.