13.02.201515:57 Forex Analysis & Reviews: Technical analysis of EUR/JPY for February 13, 2015

Long-term review

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

Technical outlook and chart setups:

The EUR/JPY pair has pushed higher through 136.70 levels as expected and is set to be poised to clear 137.50/138.00 in the coming sessions. Please also note that the pair has tested 135.00 handle yesterday, which is past resistance turned support now, and bounced back. It is recommended to remain long for now, with risk at 133.50 levels. Bulls are expected to remain in control untill prices remain above 135.00 and subsequently the levels of 133.50. Immediate support is seen at the levels of 134.70 (interim) followed by 133.50 and lower while resistance is seen at the levels of 137.50/138.00, followed by 142.00 and higher, respectively.

Trading recommendations:

Remain long for now; stop is below 133.50, target is 138.00.

Good luck!

Back to the list

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.