Ready to Start Trading?

Open a Live or Demo account online in just a few minutes and start trading on Forex and other markets.

Apply online

Any Questions?
Contact us:

phone: +1 849 9370815

email: sales@tradersway.com

Join Us in Just 1 Minute!

MT4
MT5 Terminal

EUR/JPY Selloff to Resume (November 4, 2013)

EUR/JPY suffered a heavy selloff starting Thursday last week when ECB officials hinted that a rate cut is in the cards. EUR/JPY dropped from the 135.50 area by close to 300 pips before making a quick bounce at the start of this trading week.

Sentiment remains very bearish for this pair but a retracement might take place before sellers push the pair lower. If that’s the case, EUR/JPY could pull back to the 38.2% Fib, which is in line with a former support level. It is also an area of interest, which means it could act as resistance from now on.

131104_eurjpy

 

Stochastic is pointing down, suggesting that selling pressure is still strong. Shorting at 133.60 with a stop above the 134.00 mark and a target of new lows could make a good return on risk for a swing trade. 

By Kate Curtis from Trader's Way

Any Questions?
Email Us: sales@tradersway.com

bob@tradersway.pro/ar
Quotations
Instrument Bid Ask Spread
Instrument Bid Ask Spread
Instrument Bid Ask Spread
Instrument Bid Ask Spread

2023 Martin Luther King Holiday Schedule

Due to the Martin King Holiday on 16 January, 2023, market activity and liquidity may be lower than usual....

Learn more

إنضم إلينا في 1 دقيقة فقط!

MT4MT5 TerminalMetaTrader for Mac
TradersWay's Facebook TradersWay's Telegram Channel TradersWay's Twitter TradersWay's Instagram
bob@tradersway.pro/ar