empty
 
 
29.03.2016 07:04 AM
Technical analysis of EUR/JPY for March 29, 2016

This image is no longer relevant

Technical outlook and chart setups:

The EUR/JPY pair rallied through 127.20 levels today, just a while ago. The pair is trading at 127.10 levels for now, looking to resume its downtrend. On the flip side though, a break above 127.30 levels would target 128.00 levels at least. Please note that bears are expected to remain in control till prices stay below 127.30 levels going forward. It is hence recommended to hold short positions for now, with risk at 127.30 levels respectively. Immediate resistance is seen at 127.30 levels, while support is seen at 126.80 levels respectively. A drop below 126.80 and subsequently 126.50 levels would accelerate the downside.

Trading recommendations:

Remain short for now, stop at 127.40, target is open.

Good luck!

Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $1000 more!
    In April we raffle $1000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback