fxpulsation
Posts : 8759
Join date : 2012-01-25
 |  Subject: Technical Analysis for EUR/JPY  Mon May 06, 2013 10:50 am | |
|  Technical Analysis for EUR/JPY After the major bullish wave that started from 119.10 to 131.11, the pair entered a phased of consolidation among a symmetrical triangle pattern, as shown above. The price managed to push above the triangle with the start of the week, further stability above the pattern is required to confirm the break. However, the bullish bias is favored this week. Support: 129.90, 129.00, 128.50, 128.00, 127.15 Resistance: 130.65, 131.00, 131.60, 132.00, 133.00 Recommendation Based on the charts and explanations above, we prefer to long the pair above 129.90 targeting 130.65,131.10 and 132.00. Stop loss with hourly closing below 128.90  | |
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