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08.09.2016 11:50 AM
Technical analysis of EUR/JPY for September 8, 2016

The EUR/JPY pair bounced off our entry level perfectly at 114.00 (horizontal overlap support, Fibonacci retracement) where we expect a bounce to at least 115.00.

Stochastic (34,5,3) has bounced above the 12% support as expected and crossed the 33% level as well signalling a recovery is in progress.

Remain bullish.

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Buy above 114.00. Stop loss is at 112.85. Take profit is at 115.00.

Dean Leo,
Analytical expert of InstaForex
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