Outside Bar on EUR/JPY

Outside Bar on EUR/JPY

The current technical pattern indicates a possible correction of the EUR/JPY currency pair after a fairly long fall. Near the "mirror" support of 129.650, a classic pattern of the Price Action "Outside Bar" (H1 timeframe) has been formed, which is acting as a reversal formation at the moment. The price is testing a round level of 130.000. We recommend you to pay attention to this situation.

If the price fixes above the level of 130.000, it is necessary to consider buying EUR/JPY. The closest target for fixing profit is the resistance level of 130.500. In the medium term, EUR/JPY may reach 131.000-131.250. Confirmations and entry points to the market should be looked for on lower timeframes. When following the positions, we recommend using a trailing stop.

by JustForex, 2018.05.09

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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