Pin Bar on EUR/JPY

Pin Bar on EUR/JPY

The current technical pattern indicates a possible correction of the EUR/JPY quotes. Near the key offer zone of 130.600-131.500, a classic reversal pattern of the Price Action "Pin Bar" method was formed. In the near future, we do not exclude the "bearish" sentiment on the EUR/JPY currency pair. Local support is the level of 129.350. We recommend you to pay attention to this situation.

If the price fixes below 129.350, sales of EUR/JPY should be considered. The immediate goal for profit taking is the level of 128.250. In the medium term, the currency can reach a "mirror" support level of 125.500. Confirmations and entry points to the market should be looked for on lower timeframes. When you follow a position, you must use a trailing stop.

by JustMarkets, 2017.09.08

This article reflects a personal opinion and should not be interpreted as an investment advice, and/or offer, and/or a persistent request for carrying out financial transactions, and/or a guarantee, and/or a forecast of future events.

Open Account

Get Free Analytics

* required fields
Last Articles
All Articles
Natural Gas Pricing Factors
The balance between supply and demand primarily influences natural gas prices. When demand for natural gas increases and supply cannot keep up, prices tend to rise.
Read more