For Traders

Analytical Reviews

Technical analysis

23.06.201405:20 Forex Analysis & Reviews: Technical analysis of EUR/JPY for June 23, 2014

Long-term review

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 outlook and chart setups:

1. The EUR/JPY pair is seen to be stalling out around the 139.00 levels for now, which is also the fibonacci 0.382 resistance levels. Recommendations are to remain flat for now and look to short around 139.20 levels; on rallies. Immediate possibilities are a dip towards 130.10/20 levels.

2. Support is seen at 137.70, followed by 136.20, 134.00 and lower, while resistance is seen at 140.00, followed by 141.00, 142.50/143.50 and higher respectively.

3. The structure indicates that EUR/JPY pair shall remain bearish till prices remain below the 140.00 level.

Trading recommendations:

Look to sell around 139.20 levels.

Good luck!

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.