Short EUR/JPY on breaks below 125, target 122.90

FX:EURJPY   Euro / Japanese Yen
208 1 5
EUR/JPY             has taken strong support at 125 which is base of the 8 month downward channel .

The pair has edged higher from day's lows at 125.03 to currently trade at 125.25, some consolidation likely at current levels.

Technicals are biased lower, momentum is with the bears, breaks below 125 could see test of 124 levels and then 122.90.

Immediate resistance on the upside is seen at 125.95 (Feb 19th high) and further ahead at 126.03 (5-DMA).

We would go short on breaks below 125, SL: 126, TP: 124/123/122.90
I would think it would pull back up to correct the trend channel...do you think? Possibly up to 128-132 area.
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out