FX.co ★ EUR/JPY technical analysis for August 28, 2013

Yesterday, after the EUR/JPY pair had breached bellow 131.25, the uptrend changed to downtrend. This condition has been already confirmed by all the three moving averages form the "Death Cross" pattern. It means, the downside momentum is stronger then the upside movement. However, if EUR/JPY breaches above 130.50 today, then the downside movement will be hold, at least, till the end of the day.

RECOMMENDATION:

SELL Stop (Pending Order) at 129.74

Take Profit at 129.60.

Stop Loss at 129.84.

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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