FxWirePro
Short

127 next likely stop for EUR/JPY bears, good to short upticks

FX:EURJPY   Euro / Japanese Yen
152 0 4
EUR/JPY             hit fresh 9-month lows around 127.32, but pared some losses to egde slightly higher as the yen trims gains amid a minor-recovery in the Japanese stocks.

The pair has broken major trendline support at 128.67 levels in Tuesday's trade and is currently trading around 127.50.

Price action is below all major moving averages on daily charts , momentum studies on daily and weekly charts indicate downside.

127 levels next likely stop for EUR/JPY             bears, and further weakness could see 126 levels.

Daily Stochs and RSI are in oversold territory, so caution advised, retrace and close above wedge base at 128.60 negates bearish bias.

Resistance lies at 128 (psychological level), ahead of 128.60 ( wedge base), while to the downside, the cross finds immediate support at 126.90 (March 13 low), below that 126.09(April 2015 low).

We would go short on rallies around 127.70/80, SL: 128.50, TP: 127/126.10
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
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