Yesterday after the EUR/JPY breached bellow the EMA 100 (green) and the EMA 14 (red) cross bellow the EMA 34 (blue), we knew exactly this currency had already changed it course from up to the downside; this change of its direction confirmed the support 131.50 had already been broken.
RECOMMENDATION:
SELL Stop (Pending Order) is at 131.24.
Take Profit is at 131.10.
Stop Loss is at 131.34.
Best regards,
Official Analyst of InstaForex Companies Group
InstaForex Companies Group
http://instaforex.com
Email: Arief.jakarta@indo.instaforex.com
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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.
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Performed by Arief Makmur, Analytical expert InstaForex Group © 2007-2013 |
EUR/JPY technical analysis for July 26, 2013
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