Monday, 1 December 2014

EUR-JPY Technical Analysis and Trend


 

S3
S2
S1
PIVOT
R1
R2
R3
EUR/USD 1.2390 1.2411 1.2423 1.2444 1.2456 1.2477 1.2489
GBP/USD 1.5544 1.5573 1.5593 1.5622 1.5642 1.5671 1.5691
USD/JPY 118.52 118.61 118.73 118.83 118.95 119.05 119.17
USD/CHF 0.9640 0.9649 0.9664 0.9673 0.9688 0.9697 0.9712
AUD/USD 0.8362 0.8395 0.8417 0.8450 0.8472 0.8505 0.8527
EUR/GBP 0.7943 0.7949 0.7957 0.7963 0.7971 0.7977 0.7985
USD/CAD 1.1406 1.1417 1.1435 1.1446 1.1464 1.1475 1.1493
NZD/USD 0.7721 0.7755 0.7774 0.7808 0.7827 0.7861 0.7880




Today's Chart: EUR/JPY (HOURLY )

EUR-JPY Technical Chart

SUMMARY:
EUR/JPY is in consolidating range, the pair is sustaining on the falling trendline with a negative bias, if it breaks the trendline at 147.98 levels, we can expect it to test the level of 147.75/147.51 downside. Prices can come down to test 200 SMA supporting the downside movement in the pair. RSI is sustaining in selling territory indicating the bearish sentiment in the market. MACD line is also about to break the zero line, supporting the same.

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STRATERGY :- For Today, EUR/JPY is looking weak on chart. We can expect downside movement for few upcoming session. Forex traders can go for sell on higher level strategy for this pair for intra day to mid term positions.