For Traders

Analytical Reviews

Forecast

12.01.202321:35 Forex Analysis & Reviews: EUR/JPY right above major downside obstacle of 140.11

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.

EUR/JPY Massive Drop!

The EUR/JPY pair registered a massive drop in the short term after dropping below the uptrend line. You knew from my previous analysis that the EUR/JPY pair could extend its growth only by staying above the uptrend line. Dropping below it signaled that the uptrend ended and that the sellers could take it down.

Now, the instrument stands above 140.11 former low (historical level). This represents a downside obstacle.

EUR/JPY Forecast!

Dropping below 140.11 activates more declines and is seen as a selling signal while staying above the downside obstacle could announce an upside movement.

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.