Today's Chart: :EUR/JPY ( HOURLY )
The primary trend of EUR/JPY is on charts and price is trading below the in its hourly chart. In hourly chart the price is sustaining above 200 day and taking resistance of 50 day indicating downtrend of the pair. It is having an important resistance at the level of 131.65 and support at the level of 130.02. If it breaks its on the downside and sustains below it then we can expect it to show further movement in the pair.
is sustaining in its negative territory indicating the in the pair.
is sustaining in its selling zone indicating the upcoming in the pair.
EUR/JPY is looking on charts for next few trading session. One can go for sell on higher level strategy for this pair for intra-day to mid-term positions in it.
Hi, i agree with you. I`m already shorting thr euro since friday morning. Downtrending, with price action well below 150 EMA, and retracing from resistance, in the 25 and 50 EMA, on the daily chart. Target: 126.7/ Stop loss at 132.16. Risk reward a litle over 1:4 Expect to reach target on friday. Maybe it`s a long shot. Would like to know your opinion. Thank you. I couldn`t upload the chart, dont know why.
Nothing fancy, i usually don`t use too many indicators, in this case i just used chat analisys. Btw, LL stands for Lowest Low, in my book, of course. :) I allways mark the lowest level of the previous year, 2015 in this case, and it was alyready tested in January. Now i`ll just wait for it, the market will decide, like always. :)