EUR/JPY uptrend stalls at falling trendline, sell rallies

FX:EURJPY   Euro / 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
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