Retest of "Mirror" Support on EUR/JPY

Retest of Mirror Support on EUR/JPY

The bullish sentiment prevails on the EUR/JPY currency pair. The trading instrument has updated local highs. The current technical pattern signals further recovery of quotes. At the moment, the EUR/JPY currency pair is testing the “mirror” support level of 123.100. Local resistance is the mark of 123.400. We recommend paying attention to this situation.

If the price fixes above the resistance level of 123.400, further growth of the EUR/JPY quotes is expected. The immediate goal for profit taking is the mark of 123.750. The movement is tending to 124.000-124.250. Confirmations and entry points to the market should be looked for on lower timeframes. When tracking positions, we recommend using a trailing stop.

by JustForex 2019.05.22

Este artículo representa una opinión personal y no debe interpretarse como un consejo de inversión, y/u oferta, y/o una petición persistente para llevar a cabo transacciones financieras, y/o una garantía, y/o un pronóstico de eventos futuros.

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