FX.co ★ EUR/JPY technical analysis for July 3, 2013

With the high tension in Egypt that cause the Crude Oil (CL) jump to the range between the 99-100 levels, we must be careful for the unexpected move for EUR/JPY today still give us a healthy uptrend situation, which is already indicated by, firstly, all the three moving averages are still pointing up and form a Golden Cross pattern, and, secondly, yesterday the price got a small retracement (Circle), and having touched the EMA 34 (Blue), EUR/JPY is back to the upside again. For today, please pay attention to all of your trades because besides the turmoil situation at Egypt this night will release the ADP Non Farm Payrolls, a clue for the Friday's Non Farm Payrolls.

RECOMMENDATION:

Buy stop (pending order) at 130.76.

Take profit at 130.90.

Stop loss at 130.66.

Best regards,

Arief Makmur

Official Analyst of InstaForex Group

InstaForex Group

https://instaforex.com

Email: Arief.jakarta@indo.instaforex.com

Yahoo Messenger & Skype: Arief.ifx_jakarta

blog.mt5.com/arief

https://www.mt5.com/forex_analysis_award/profile/index/arief

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