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March 22, 2013

Daily forex post – EUR/JPY March 22, 2013

Posted by: ffs @ 06:25 GMT Category: Daily Forex,EUR/JPY,Signals

EUR/JPY Technical view

Updated:  March 22, 2013 6:24:03 GMT
SPOT EUR/JPY Previous day OHLC
Open High Low Close Change
124.15 124.37 122.05 122.40 -1.75
Today's Support and Resistance
R3 125.50
R2 124.50
R1 123.30
S1 121.60
S2 121.25
S3 117.60

EURO ended the session on Thursday with losses of 1.28%, versus the yen. The pair tripped after failing to breach the previous days high, to close sharply lower, giving back all the gains of the previous session.Expecting the volatility to continue for the rest of the week. Crucial supports at 121.25- 121.75. As long as the pair holds above it, the trend remains bullish. Close below and we could see a huge fall to 117.25- 117.75 yen

Trend direction

  • Short term: Bullish
  • Medium term: Bearish
  • Long term: Bullish

Trading Recommendations

  • Short:

    • At 120.50 with a stop at 121.50 for a profit target of 118.00
  • Long:

    • At 121.50 with a stop at 121.00 for a profit target of 123.00
    • At 124.80 with a stop at 124.30 for a profit target of 125.50
Post ID: 4693
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