Daily Chart Art - September 11, 2012

EUR/JPY: 4-hour


EJ

Do you like trading Fibonacci retracement levels? If your answer is yes, then this setup is perfect for you. As you can see, EUR/JPY seems to have formed a temporary top just above the 100.000 handle. Both price and the Stochastic is heading lower, suggesting that we could see a retest of the previously broken resistance level at the 99.00 handle. If you're part of the bull camp, this could be a good level to jump in long again, as it coincides nicely with the area between the 50% and 61.8% Fibonacci retracement levels.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these securities. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Forex involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.

RELATED TOPICS