For Traders

Analytical Reviews

Technical analysis

16.04.201509:46 Forex Analysis & Reviews: Technical analysis of EUR/JPY for April 16, 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 rally should continue until prices remain above 126.00. Please note that the pair has formed a bullish tweezer bottom candlestick signal yesterday indicating higher probability for a rally. It is recommended to remain long, with stop below the level of 126.00. Immediate support is seen at 126.00 (interim) followed by 125.00 and lower while resistance is seen at 131.00/50 followed by 136.00/50 and higher respectively. Bulls are poised to target at least 136.50 before producing a meaningful retracement.

Trading recommendations:

Remain long stop below 126.0,0, a target is open.

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.