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12.10.201514:09 Forex Analysis & Reviews: Technical analysis of EUR/JPY for October 12, 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.

Exchange Rates 12.10.2015 analysis

Technical outlook and chart setups:

The EUR/JPY pair is facing resistance above the level of 137.00 trading at the territory around 136.50/60 at the moment. It is quite possible that the pair drops lower towards 135.50 before turning bullish again. It is recommended to remain flat for now and look for an opportunity to buy at lower levels. Immediate support is seen at 134.50 followed by 133.50/25, 132.00, and lower, while resistance is seen at 137.00/30 followed by 138.00/139.00 and higher. Watch for 135.00/50 where support is likely to be found.

Trading recommendations:

Remain flat now.

Good luck!

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