For Traders

Analytical Reviews

Technical analysis

27.02.201509:49 Forex Analysis & Reviews: Technical analysis of EUR/JPY for February 27, 2015

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:

The EUR/JPY pair is trading at 133.60/70 levels for now, the lower boundary of its 200 pip trading range. Near-term upside potential remains till 137.50/138.00 levels from here. It is therefore recommended to remain long with risk below 132.50 levels. Bulls seem to be poised to rally and push the pair through 137.50 levels at least. Immediate support is seen at 133.50 (interim), followed by 132.50, 130.00 and lower while resistance is seen at 137.50/60 levels, 130.00, 142.30 and higher respectively. A meaningful correction could be expected once the pair reached 137.50/138.00 levels, which is the 0.382 fibonacci resistance of the drop from 149.50 to 130.50 levels respectively.

Trading recommendations:

Remain long, stop at 132.50, a target 137.50.

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.