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EurJpy Rally May Gather Pace Towards 102.50 Level

2012-11-12 13:13:37 (читать в оригинале)

Technical Outlook and Chart Setups:

As it is depicted above, the structure remains quite unchanged from last Friday. It is expected that a rally should materialize soon, giving much awaited break into the over stretched charts. Minimum expectations are towards 102.50/60 levels as shown above. It is recommended to build long positions as close to 100.50-101.00 levels to take advantage of the relief/counter trend rally. Immediate support is at 100.00 level, while Fibonacci resistance begins from 101.50 and extends through 102.50/60. Look higher for short term at least.

Trading Recommendations:

Long now, stop at 100.00 (or just below that), target at 102.50/60 minimum.

Good Luck!

The material has been provided by Instaforex Company - instaforex.com