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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.



Expert In



EUR/JPY rises as expected


EUR/JPY has registered important growth lately. It has also jumped above the downtrend line signaling an upside reversal. You can see that the pair has dropped within a down-channel pattern. If the price escapes from this formation, it will indicate that EUR/JPY could resume its growth.

The area between the former high of 129.58 and the low of 129.26 is seen as a support zone or a downside obstacle. The price has a chance to increase as long as it stays above this area. In the short term, we cannot exclude a temporary decline after the current amazing rise.

Trading conclusion

EUR/JPY could jump higher as long as it stays above 129.58 - 129.26 area and above the downtrend line. A minor decline could help us to catch a new upside momentum. The high of 130.44 is seen as a potential upside target.

The material has been provided by InstaForex Company -