For today, EUR/JPY seems to have a little sign of weakness even though the situation is still in the uptrend, which is indicated by all the three Moving Averages still forming the Golden Cross pattern, but unfortunately this currency pair has already retraced and touched the Exponential Moving Average (100). We know this will be the sign of the weakness from the uptrend in this currency, so pay attention to any reversal movements to test their previous support.
Trading Forex (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
For today, EUR/JPY seems to have a little sign of weakness even though the situation is still in the uptrend, which is indicated by all the three Moving Averages still forming the Golden Cross pattern, but unfortunately this currency pair has already retraced and touched the Exponential Moving Average (100). We know this will be the sign of the weakness from the uptrend in this currency, so pay attention to any reversal movements to test their previous support.
RECOMMENDATION:
Buy stop (pending order) at 128.51.
Take profit at 128.65.
Stop loss at 128.41.
Best regards,
Arief Makmur
Official Analyst of InstaForex Group
InstaForex Group
http://instaforex.com
Email: [email protected]
Yahoo Messenger & Skype: Arief.ifx_jakarta
blog.mt5.com/arief
http://www.mt5.com/forex_analysis_award/profile/index/arief
Disclaimer:
Trading Forex (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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