empty
 
 
30.12.2011 12:16 PM
EUR/JPY Intraday Technical Analysis & Trade Recommendation December 30, 2011

This image is no longer relevant

EUR/JPY is now trending down with successive lower lows & lower highs.

Two weeks ago, We had two significant technical events which are the break of the mid-term uptrend line on Monday & Break of the support level 102.50 on Tuesday.

Last Week, Retracement was expected towards 102.50-103.25 which was mentioned as a good SELL entry area.

It's important to mention that the pair broke the support level 100.75 which was last October's low.

SL should be lowered to be daily closure above 101.00 & remaining TP levels should be waited for as 100.00 is the first support level near to the pair price.

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 $6000 more!
    In December we raffle $6000 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