EurJpy Weekly Review

FX:EURJPY   Euro Fx/Japanese Yen
45 0 2
Market has confirmed that it wanted to move lower to test the bottom of the channel.
Currently the RSI is holding below the support line, from here it go either way,
We are looking for the RSI to either move above the support line which would confirm upwards price move.

I do think that i will move higher, but that is just a prediction at this point, wait for the market to tell us what it wants to do, we shall see by early next week.

If the RSI does hold below the support then look for MAJOR downside movement, Price action wedge will be violated!

Both MACD's currently below the Zero line which shows BEARISH momentum , however secondary MACD looks like a crossover is imminent.

Thanks all. Good Luck and Good Trading

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