InstaForex - Analytics

    InstaForex

    694.50 6.50/10
    61% of positive reviews
    Real

    USD/JPY Intraday Technical Levels for May 1, 2012

    2015-03-05-EURJPY-4H.png

    Show full picture

    Technical summary:

    We have seen a nice and strong decline after the break below support at 133.39 and more importantl break below support at 132.52 confirming that the correction in wave (iv) ended at 135.91 and wave (v) is developing lower towards 125.98 . Short term, we expect resistance at 133.20 to protect the upside for the next decline lower towards the 161.8% extension target at 131.00 and possibly even lower.

    Trading recommendation:

    We are short EUR from 133.90 and will lower our stop to break-even. If you are not short EUR yet, then sell near 133.20 with the same stop at 133.90.

    Arief Makmur neemt deel aan de "Analyst of the Year" onderscheiding georganiseerd door MT5.com portal. Als u zijn artikel goed vindt, stemt u dan op hem.

    Uitgevoerd door, Analytische expert
    InstaForex Group © 2007-2015

    To leave a comment you must or Join us


    By visiting our website and services, you agree to the conditions of use of cookies. Learn more
    I agree