FX.co ★ EUR/JPY technical analysis for July 18, 2013

Last night, the EUR/JPY pair got push to the upside, and the EUR/JPY pair for now still is in an uptrend situation. This can be confirmed with all the three moving average, which still give a "golden Cross" formation pattern and the EUR/JPY pair’s retracement penetrated not more than the EMA 34 (Blue). This is the sign of the healthy trend at this currency.

RECOMMENDATION:

BUY Stop (Pending Order) is at 131.01.

Take Profit is at 131.15.

Stop Loss is at 130.91.

Best regards,

Arief Makmur

Official Analyst of InstaForex Companies Group

InstaForex Companies Group

https://instaforex.com

Email: Arief.jakarta@indo.instaforex.com

Yahoo Messenger and Skype: Arief.ifx_jakarta

blog.mt5.com/arief

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

Disclaimer:

Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.