EUR/JPY capped below 50-DMA, good to short rallies

FX:EURJPY   Euro Fx/Japanese Yen
203 0 6
BOJ governor Kuroda’s hawkish comments increase demand for Yen in Asian session.

Kuroda played down necessity for more easing in the short-term, thus squashing hopes of any surprise next week.

EUR/JPY             capped below 50-DMA resistance at 114.18, further gains can be seen only on break above.

Hourly charts show bearish 5-DMA crossover on 20-DMA.

Pair is currently holding minor support by 1H 50-SMA at 113.72. Break below could see drag upto 113.55 ( trendline ).

Violation there could see next major support at 113.26 (session low Oct             26).

Major support levels - 113.72 (1H 50-SMA), 113.55 ( trendline ), 113.26 (session low Oct             26).

Major resistance levels - 113.92 (1H 20-SMA), 114, 114.18 (50-DMA)

Good to sell rallies around 113.90/95, SL: 114.35, TP: 113.55/ 113.25

Bearish invalidation above 20-DMA at 114.32. Upside could then see 115.75 (major trendline resistance).
Ideas Scripts Chart
United States
United Kingdom
Home Stock Screener 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 Billing Sign Out