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Investments in financial products are subject to market risk. Some financial products, such as currency exchange, are highly speculative and any investment should only be done with risk capital. Prices rise and fall and past performance is no assurance of future performance. This website is an information site only.

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EUR/JPY analysis for August 09, 2017

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Recently, the EUR/JPY has been trading downwards. As I expected, the price reached the level of 128.41 (yesterday's target). Anyway, according to the 4h time frame, I am still expecting lower price but to confirm further lower price I would like to see a breakout of support at 128.48. If the price breaks the support, watch for potential selling opportunities. The downward targets are set at the price of 126.60 and 125.00.

Resistance levels:

R1: 130.50

R2: 131.30

R3: 131.80

Support levels:

S1: 129.20

S2: 128.70

S3: 127.90

Trading recommendations for today: watch for potential selling opportunities.

The material has been provided by InstaForex Company - www.instaforex.com