Trading Conditions
Products
Tools
EUR/JPY peaked at 130.15, just below the ideal target at 130.20. Now we expect the resistance at 129.64 - 129.92 zone will cap the upside for renewed downside pressure towards 123.66 in wave C.
Only an unexpected break above 130.15 will revive wave B for a move closer to the 61.8% corrective target at 130.65 before completing wave B and setting the stage for wave C lower.
R3: 130.15
R2: 129.75
R1: 129.64
Pivot: 129.38
S1: 129.15
S2: 128.82
S3: 128.60
Trading recommendation:
We closed out the final 50% of our long position from 127.75 at 129.30. We will sell EUR at 129.50 and place our stop at 130.25.
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.