EUR/JPY - Euro Yen, American Session - 26/06/08

By @ibtimes on

168,99. EUR JPY is in an uptrend supported by 1H exponential moving averages. EUR JPY is in a consolidation after the last bullish movement. The volatility decreases. Bollinger bands are tightened. ForexTrend 1H, 4H, daily (Mataf Trend Indicator) is in a bullish configuration. 4H ForexSto (Modified Stochastic) indicate a bullish pressure on EUR JPY. The price should find a support above 168,80. The uptrend should continue to gather momentum.
=> We could take a long position at 169,00. We will put the stop loss below 168,60 (-40 pips). The targets are 169,50 (+50 pips) 170,10 (+110 pips). Each trade is dangerous, take care and put your stop loss. Trade configuration (1 Speculative -> 4 Trend following): 4.

Resistances
169,50 - 170,10
Supports
168,80 - 168,60

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