The EUR/JPY pair is still in the downside movement, this already is indicated by all the three moving averages which are still making a formation called “The Death Cross” pattern. For today it seems this currency has already tested its dynamic resistance EMA 34 (blue); as long as it has not touched and/or penetrated the dynamic resistance EMA 100 (green), the downside movement still continues.
Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
The material has been provided by InstaForex Company – www.instaforex.com
The EUR/JPY pair is still in the downside movement, this already is indicated by all the three moving averages which are still making a formation called “The Death Cross” pattern. For today it seems this currency has already tested its dynamic resistance EMA 34 (blue); as long as it has not touched and/or penetrated the dynamic resistance EMA 100 (green), the downside movement still continues.
RECOMMENDATION:
SELL Stop (Pending Order) is at 129.74.
Take Profit is at 129.60.
Stop Loss is at 129.84.
Best regards,
Arief Makmur
Official Analyst of InstaForex Companies Group
InstaForex Companies Group
http://instaforex.com
Email: [email protected]
Yahoo Messenger and Skype: Arief.ifx_jakarta
blog.mt5.com/arief
http://www.mt5.com/forex_analysis_award/profile/index/arief
Disclaimer:
Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
The material has been provided by InstaForex Company – www.instaforex.com
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