fxpulsation
Posts : 8759
Join date : 2012-01-25
 |  Subject: Technical Analysis for EUR/JPY  Mon Jul 01, 2013 11:29 am | |
|  Technical Analysis for EUR/JPY The pair managed to breach resistance level of the minor descending channel shown on graph, forming the upside continuation Flag Pattern that supports extending the upside move in the upcoming period. Therefore, we expect further bullishness over intraday and short term basis, with targets starting at 131.05 then 133.75 while achieving it requires stability above 128.55. Support: 129.00, 128.55, 127.75, 127.40, 126.90 Resistance: 129.90, 130.50, 131.15, 131.35, 132.40 Recommendation Based on the charts and explanations above, we prefer to long the pair above 129.90 targeting 131.05,132.15. Stop loss with four-hour closing below 128.55 might be appropriate | |
|
