FxWirePro
Short

EUR/JPY uptrend stalls at falling trendline, sell rallies

FX:EURJPY   Euro Fx/Japanese Yen
272 0 2
EUR/JPY             uptrend from 126 lows (Jan 21st) is stalling by strong trendline resistance at 132 levels.

A clean break above is needed for further upside, but Techs are not providing much support, Stochs are in overbought territory, a reason for caution.

Daily cloud (currently spanning between 132.26 and 133.20) weighs on the topside, also Doji formation seen at highs suggests some correction lower.

Immediate suppport is seen by 131.25 (Feb 1st lows) and then 5-DMA at 130.75. On the other side resistance is seen at 132 (falling trendline ) ahead of 132.26 (cloud base).

We would sell rallies around 131.70/75, SL: 132.25, TP: 131/130.75
Trade closed: target reached
Ideas Scripts Chart
United States
United Kingdom
India
España
France
Italia
Polska
Brasil
Россия
Türkiye
Indonesia
日本
한국
Home Stock Screener Forex Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Account and Billing Sign Out