EUR/JPY: bears play cat and mouse

Read the article on FBS website

On the EUR/JPY daily chart, the "bears" have implemented the targets on the short positions and reached support at 117.35. A successful test of this level will lead to the continuation of a downward movement towards the convergence zone 116.55-116.75. Bears remain control over the pair. Traders might consider selling on rollbacks or on breakouts of the supports.

On the EUR/JPY hourly chart, a downward triangle has been formed. A successful test of its lower border can lead to the continuation of the downward movement. The immediate supports can be found near 118.4 and 119.05. 

Recommendations: SELL 118,4 SL 118,95 TP 116,75,

SELL 119,05 SL 119,6 TP 117,35. 

Share with friends:

Similar

Latest news

Instant opening

FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.