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FBS: Trading recommendations for EUR / JPY

Tatiana Norkina, an analyst of FBS

 

Despite the fierce attempts of bulls to go above the resistance level of 137.60, they were able to test only the last figure of 138.00. On today's trading the currency pair was under pressure of bears and went under 137.60 again, reaching the target of our yesterday's recommendations.

Obviously, the support level for 137.00 / 10 may become the focus of buyers’ interests today, but until oscillators are set to fall. Bollinger Bands also does not promise anything good for the bulls. It is possible that bears will manage to test 136.60 level today.

Technical levels: Support - 136.60, 136.80, 137.10; resistance - 137.60, 138.10.

Trading recommendations:

1. Sell - 137.40; SL - 137.65; TP1 - 136.60.

 

2. Buy - 137.00 / 10; SL - 136.80; TP1 - 138.10.

 

3. Buy - 136.60; SL - 136.40; TP1 - 137.60; TP2 - 138.10.

 

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