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EurJpy Rallies Further. Hold Long Positions and Reduce Risk

2012-11-15 13:32:55 (читать в оригинале)

Technical Outlook and Chart Setups:

The single currency pair rallies and runs through the resistance region rapidly. It is recommended to keep buying on dips from here on. Intermediary support is at 102.00 level and further down at 100.00. Resistance will be strong around 103.50 level now; it looks like the bulls are determined to break that, before a meaningful break/pullback. Look to buy on dips from here on, since further higher levels are possible when 103.60 is broken. Higher now.

Trading Recommendations:

Hold on to long positions, buy on dips, move stop from 100.00 to 101.25 (or breakeven), and target open.

Good Luck!

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