EUR / JPY:
Our expectations: EUR / JPY: reached serious levels of resistance where is a price action signal to decrease. A formation that give a signals for possible correction of the upward pulse and good short positions.
Alternative Scenario: Passing the price over the top of the Pin Bar will signal that the upward movement will continue, where we have to turn our positions to buy
Comment: Down-trend and medium-term upward movement.
Price on horizontal resistance
Price action signal for possible decrease - Pin Bar
RVI gives a negative signal for possible reversal of the redeemed currency.
Stop loss 20 pips above the top of the pin bar
Stefan D. Angelov - Head of Stocks trading
Read more:
25 Canada Square, Level 33, office 50, Canary Wharf London, E14 5LQ +44 20 3608 6256
World Financial Markets - 0700 17 600 Varchev Exchange - 0700 115 44
Varchev Finance Ltd is registered in the FCA (FINANCIAL CONDUCT AUTHORITY) with a passport in the United Kingdom: FCA, United Kingdom - registration number: 494 045, which allows provision of financial services in the United Kingdom.
Varchev Finance Ltd strictly comply with the statutes of the European directive MiFID (Markets in Financial Instruments). targeting increased efficiency, transparency and uniformity of financial instruments.
Varchev Finance Ltd is authorized and regulated by the Financial Supervision Commission - Sofia, Bulgaria: License number RG-03-02-05 / 15.03.2006
The information on this site is not intended for distribution or use by any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.
Disclaimer:
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 63,41% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.