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EUR/JPY Forex Trading Tips & Market Analysis 14th April 2016

FX:EURJPY   Euro Fx/Japanese Yen
SUMMARY:
The current trend of EURJPY             is bearish on charts and price is trading below 50 day SMA and 200 day SMA with appearance of dead cross on 4 hourly charts. It is having an important support at the level of 123.12 and resistance at the level of 123.85. On chart it made a symmetrical triangle. If it breaks its support level on the downside and sustains below it then we can expect it to show further bearish movement in the pair.

INDICATORS:-
RSI is sustaining below 50 in its selling zone indicating the upcoming bearish trend in the pair.

STRATEGY:
On the down side break out of symitrical triangle on charts on can go for sell for next few trading session.


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mr banker what do you expect EJ to drop to?
+1 Reply
Hi Fali, 120.40 is within range now
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