Forex: EUR/JPY Technical Analysis – Support Found at 140.00 Mark

| 31 mars, 2014 | 0 kommentarer

To receive Ilya’s analysis directly via email, please SIGN UP HERE

Talking Points:

  • EUR/JPY Technical Strategy: Flat
  • Support: 139.95 (Mar 28 low)
  • Resistance: 141.73 (23.6% Fib exp.), 142.84 (38.2% Fib exp.)

The Euro recoiled higher to challenge the top of a now-familiar consolidation range having tested the 140.00 figure against the Japanese Yen. Near-term resistance is at 141.73, the 23.6% Fibonacci expansion, with a break above this barrier on a daily closing basis exposing the 38.2% level at 142.84. Near-term support is at 139.95, the March 28 low.

Prices are too close to relevant resistance to justify a long position from a risk/reward perspective. On the other hand, entering short looks premature absent a defined bearish reversal signal. With that in mind, we will continue to stand aside for now.

Confirm your chart-based trade setups with the Technical Analyzer. New to FX? Start Here!

dailyclassics_eur-jpy_body_Picture_12.png, Forex: EUR/JPY Technical Analysis  Support Found at 140.00 Mark

Daily Chart – Created Using FXCM Marketscope 2.0

— Written by Ilya Spivak, Currency Strategist for

Taggar: ,

Kategori: Analys från DailyFX

Om skribenten ()

DailyFX från FXCM ger dig dagligen färska tekniska analyser på valuta och råvaror. FXCM är en ledande handelsplattform för trading av finansiella tillgångar med kraftfulla verktyg för alla sorters handel.

Lämna ett svar

Din e-postadress kommer inte publiceras. Obligatoriska fält är märkta *