If we look at the chart, all the three moving averages forming Golden Cross pattern are still pointing to the fact that the uptrend situation is still continuing for EUR/JPY; however, this currency pair must have a small retracement as the element from the healthy uptrend; as long as the retracement does not touch the 129.00 and/or the EMA 100 (green); the uptrend situation for EUR/JPY is still in place.
RECOMMENDATION:
Buy stop (pending order) at 130.26.
Take profit at 130.40.
Stop loss at 130.16.
Best regards,
Official Analyst of InstaForex Group
InstaForex Group
http://instaforex.com
Email: Arief.jakarta@indo.instaforex.com
Yahoo Messenger & Skype: Arief.ifx_jakarta
blog.mt5.com/arief
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