For Traders

Analytical Reviews

Technical analysis

29.03.201713:24 Forex Analysis & Reviews: EUR/JPY analysis for March 29, 2017

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.

Recently, the EUR/JPY pair has been trading downwards. The price tested the level 119.67. According to the 4H time frame, I found broken bearish flag in the background, which is a sign that sellers are in control. The MACD indicator is showing potential re-continuation of the downward movement, which is another sign of weakness. My advice is to watch for potential selling opportunities. The downward targets are set at the price of 119.35 (swing low) and the price of 118.30.

Resistance levels:

R1: 120.40

R2: 120.60

R3: 120.90

Support levels:

S1: 119.80

S2: 119.60

S3: 119.30

Trading recommendations for today: watch for potential selling opportunities.

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.