AccentForex - Analytics

    AccentForex

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    EUR/JPY is trying to extend the trend.

    EUR-JPY_2_800x533_L_1417097360

    EUR/JPY.

    1. The euro and the yen right now continues to move in the band of the downtrend.
    2. JPY can be priced at 118,470 euros. This price is close to the level of 61.8 (118.800). At the same time, the price is in the middle area of the correctional of the rising trend, and has gone beyond the downward movement along the trend line from 124,121 to 115.456 (on this movement stretched the Fibonacci grid).

    3. Probably the movement according to an upward correction in a downtrend at least 50 Fibonacci.
    4. If the level of 61.8 will provide strong resistance, the price will return to the downward trend of 124,121, and will test the level of 115,456
    5. Position level Stochastic indicates that the price is in the middle line between the levels of 20 and 80 for the Stochastic. It should be noted that on the level of 61.8 was awarded oversold last time. Therefore, it is very likely that it will provide strong resistance.

    AF

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