fxpulsation
Posts : 8759 Join date : 2012-01-25
| Subject: Technical Analysis for EUR/JPY Mon Jan 20, 2014 2:19 pm | |
| Technical Analysis for EUR/JPY The pair approached our expected target at 140.15 from where it rebounded to the upside in attempt to test 142.25 areas. The pair might continue with the positive bias over intraday basis, supported by momentum indicators. We prefer to remain on the sidelines for now to observe the pair at critical 140.15 support and 142.25 resistance; a breakout below the support will extend the downside correction toward 138.50 while breaching the resistance will be positive and revive the general uptrend. Support: 140.90, 140.15, 139.60, 139.10, 138.50 Resistance: 141.50, 142.25, 143.15, 143.55, 144.05 Recommendation Based on the above, we prefer to remain on the sidelines for now and observe the pair around 140.15 support and 142.25 resistance | |
|