EURJPY bounces of support line at the 131.40 levels. Remain long
October 4, 2013 6:15 am
Technical outlook and chart setups:
The currency pair has bounced off right at the trendline passing around the 131.40 mark, just within the 131.50 area. If stopped out, it is recommended to remain long again, with a stop of 131.10/20 again. The following convergences can be seen occurring here:
1. Rising trendline bounce.
2. Fibonacci 0.618 support region passing through.
3. Past resistance turned support region.
4. Morning Star Appearance.
Trading recommendations:
Remain long, stop is at 131.10, target is open.
Good luck!
The material has been provided by InstaForex Company – www.instaforex.com
Technical outlook and chart setups:
The currency pair has bounced off right at the trendline passing around the 131.40 mark, just within the 131.50 area. If stopped out, it is recommended to remain long again, with a stop of 131.10/20 again. The following convergences can be seen occurring here:
1. Rising trendline bounce.
2. Fibonacci 0.618 support region passing through.
3. Past resistance turned support region.
4. Morning Star Appearance.
Trading recommendations:
Remain long, stop is at 131.10, target is open.
Good luck!
The material has been provided by InstaForex Company – www.instaforex.com
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