Technical analysis of EUR/JPY for January 23, 2014.
January 23, 2014 5:30 am
Technical outlook and chart setups:
1. The EUR/JPY pair remains locked between 141.00/50 for now. It is still recommended to remain flat and look towards the 143.00/50 region to initiate short positions.
2. Immediate resistance is at 143.00/50, followed by 145.00/50, while supports are spread through 138.50, followed by 134.00 and 131.00 respectively.
3. The structure reveals that a meaningful top could be in place at 145.50. A counter trend rally could extend towards 143.00 providing opportunities to initiate short positions.
Trading recommendations:
Remain flat for now. Look to sell around 143.00/50.
Good luck!
The material has been provided by InstaForex Company – www.instaforex.com
Technical outlook and chart setups:
1. The EUR/JPY pair remains locked between 141.00/50 for now. It is still recommended to remain flat and look towards the 143.00/50 region to initiate short positions.
2. Immediate resistance is at 143.00/50, followed by 145.00/50, while supports are spread through 138.50, followed by 134.00 and 131.00 respectively.
3. The structure reveals that a meaningful top could be in place at 145.50. A counter trend rally could extend towards 143.00 providing opportunities to initiate short positions.
Trading recommendations:
Remain flat for now. Look to sell around 143.00/50.
Good luck!
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: