eurjpy technical outlook forecast

eurjpy price movement Supported on 125-126 area now what ……..

from my last post  at : 7/3/2015

eurjpy pair close below 131 area during the session on last friday 
we can see on the charts few things that show to us the bearish move on this pair
The intersection of the tracks began in 2013 and marked a positive direction, currently turned negative in two years
second the technical format : we can see The rounding top pattern at the charts  is a reverse U-shape, also called a “reverse saucer. ” The top is rounded with a flat top. 

The neckline of the pattern is constructed by the lowest point before the formation of the reverse U. rounding top can be a bullish continuation pattern but also a downward continuatio pattern
Breaking threshold configuration, will lead the pair lower targets, while in terms of subsidies and technical levels Areas which need to emphasize are the first stage in the 130 area round, the second stage 128.30-50 When the above area will lead to the breaking of the pair 125-126 there is a support strap derived from the template and target
In the bigger picture, the break of 134.30 support should confirm medium term topping at 

update at : 5/5/2015
price reached to 126 area 
cross up 131 area 
the next leg will be for my opnion to 138 area,now rhe trend  is to remain flat for now and look to buy on dips,from there we need to look closely again 
Further out, resistance resides at the 138 level. On the downside, support comes in 131 level 

eurjpy technical analysis

This review does not including any document and / or file attached to it as an advice or recommendation to buy / sell securities and / or other advice

Leave a comment