InstaForex - Analytics

    InstaForex

    740.25 6.25/10
    63% of positive reviews
    Real

    Technical analysis of EUR/JPY for June 11, 2015


    Show full picture

    Technical outlook and chart setups:

    The EUR/JPY pair finally produced a bearish evening star candlestick pattern on the daily chat yesterday. The pair is currently trading around 139.30/40, expected to continue dropping lower from here. Please note that the reversal candlestick pattern has been formed at fibonacci 0.618 resistance levels as depicted here. It is recommended to remain short hence with risk around the level of 142.50. Immediate resistance is seen at 141.00 followed by 142.00 and higher. Support is seen at 138.00 followed by 135.00, 133.00, and lower respectively.

    Trading recommendations:

    Remain short, stop is at 142.50, a target is open.

    Good luck!


    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