Ascending Channel on EUR/JPY

Ascending Channel on EUR/JPY

At the moment the bullish sentiment is prevailing on EUR/JPY. On the M15 timeframe, a pronounced ascending channel was formed. The EUR/JPY quotes have the potential for further growth. The level of 132.900 acts as a local resistance. We recommend you to pay attention to this situation.

If the price is fixed above the mark of 132.900, you need to look for entry points to the market to open long positions. The immediate goal for fixing profits is the "mirror" resistance level of 133.200. The movement is tending to 133.500-133.700. When following the position, we recommend using a trailing stop.

by JustForex, 2017.12.07

This article reflects a personal opinion and should not be interpreted as an investment advice, and/or offer, and/or a persistent request for carrying out financial transactions, and/or a guarantee, and/or a forecast of future events.

Open Account

Get Free Analytics

* required fields
Last Articles
All Articles
Best Gold Trading Tips For Beginners
Gold is one of the most popular assets traded worldwide by investors, funds, and speculators who aim to profit from the price fluctuations or stand up against inflation. Unfortunately, many market participants fail to catch the wave and take full advantage of what the gold market can offer due to the lack of knowledge and experience. Are you planning to become the next gold trader? Learn how to trade gold in the most profitable way.
Read more
How to Become a Successful Forex Trader in Malaysia
With broad access to online brokerage services, everyone can become a trader these days. However, few people actually find success in FX. The reason might be that many of those who try trading skip some essential steps or simply do things wrong. Learn about the best ways to become a currency trader in Malaysia from this article.
Read more
How to Become a Forex Trader in Indonesia
Starting trading currencies in Indonesia is as easy as in the rest of the world. All you need to do is spend a few minutes of your time on opening a trading account and going through the verification process. However, this is hardly enough to start making money, let alone make a living out of forex trading. To learn about the best ways to trade currency in Indonesia, read this article.
Read more