EUR/JPY is now in a ranging situation between the 128.25-130.25; this situation was caused by yesterday's signal from Mr Bernanke for continuation of the U.S. economic stimulus until mid-2014; but when this stimulus will be stopped there's no clue, because they will not stop it until they get confirmation with all the economic data. This issue made the market confused, and this situation makes the market ranging, at least temporarily.
RECOMMENDATION:
Buy stop (pending order) at 130.26.
Take profit at 130.40.
Stop loss at 130.16.
Alternative:
Sell stop (pending order) at 129.99.
Take profit at 129.85.
Stop loss at 130.09.
Best regards,
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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