Investment Recommendations May 11th

EUR/JPY: Short-Term Sell (Update)

EUR/JPY, 4-Hour Chart Analysis

Although our recommendation earlier on this week hit our stop-loss level, the conditions for the trade continue to provide a good opportunity for a trade. Those traders who are still holding their positions are encouraged to do so, as a correction towards the 120 level is likely in the coming days. New positions might also be initiated at the current levels. The MACD indicator shows a bearish trend and the 124.50 level provides a good stop-loss chance. The rising short-term trend is clearly broken and a break below 123 would confirm the correction. Further support levels are found near 121.20 and between the 119 and the 119.30 levels.

Trader and financial analyst, with 10 years of experience in the field. An expert in technical analysis and risk management, but also an avid practitioner of value investment and passive strategies, with a passion towards anything that is connected to the market.

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