The legend in the InstaSpot team!
Legend! You think that's bombastic rhetoric? But how should we call a man, who became the first Asian to win the junior world chess championship at 18 and who became the first Indian Grandmaster at 19? That was the start of a hard path to the World Champion title for Viswanathan Anand, the man who became a part of history of chess forever. Now one more legend in the InstaSpot team!
Borussia is one of the most titled football clubs in Germany, which has repeatedly proved to fans: the spirit of competition and leadership will certainly lead to success. Trade in the same way that sports professionals play the game: confidently and actively. Keep a "pass" from Borussia FC and be in the lead with InstaSpot!
EUR/JPY continues to move higher towards our ideal target near 123.84. EUR/JPY is currently testing the former high at 122.6. It should be a matter of time before this high is conquered for more upside pressure towards 123.35 on the way to the ideal target at 123.84. That said, we do see the possibility of short-term exhaustion for a corrective dip to 122.15 before the next upside pressure sets in.
R3: 123.84
R2: 123.34
R1: 122.93
Pivit: 122.43
S1: 122.14
S2: 121.84
S3: 121.43
Trading recommendation:
We are long EUR from 122.25 and we will move our stop higher to 122.40.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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