Recently, the EUR/JPY pair has been trading downwards. The price tested the level of 124.54. Anyway, according to the 4H time frame, I found that yesterday’s low held successfully and that EUR/JPY is in a short-term uptrend. I added Bolinger Bands and price was rejected from the middle line, which is another sign of strength. Watch for buying opportunities. The upward target is set at the price of 125.75
Resistance levels:
R1: 125.75
R2: 126.00
R3: 126.50
Support levels:
S1: 124.75
S2: 124.45
S3: 123.90
Trading recommendations for today: watch for potential buying opportunities.
The material has been provided by InstaForex Company – www.instaforex.com Source: Instaforex.com
Recently, the EUR/JPY pair has been trading downwards. The price tested the level of 124.54. Anyway, according to the 4H time frame, I found that yesterday’s low held successfully and that EUR/JPY is in a short-term uptrend. I added Bolinger Bands and price was rejected from the middle line, which is another sign of strength. Watch for buying opportunities. The upward target is set at the price of 125.75
Resistance levels:
R1: 125.75
R2: 126.00
R3: 126.50
Support levels:
S1: 124.75
S2: 124.45
S3: 123.90
Trading recommendations for today: watch for potential buying opportunities.
The material has been provided by InstaForex Company – www.instaforex.com
Source: Instaforex.com
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