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Short

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).
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