EUR/JPY technical analysis for July 31, 2013


With all the three moving averages still making a Death Cross formation pattern, no doubt EUR/JPY will extend the downtrend today, as long it does not touch 130.50. If this level is breached, then the downtrend will hold at least for today.

RECOMMENDATION:
Sell stop (pending order) at 129.74.
Take profit at 129.60.
Stop loss at 129.84.

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