Technical Analysis for EUR/JPY

Technical Analysis for EUR/JPY

The pair returned to the upside after testing areas of the 50 & 100 MA and remains stable above 140.15. The positive scenario accordingly is still favored for the EURJPY over intraday and short term basis targeting 141.20 followed by 142.25 areas. The negativity on Stochastic might force sideways fluctuations before the pair resumes the general uptrend as far as stability is above 140.15 and most importantly 139.75.

Support: 140.15, 139.75, 139.30, 138.70, 138.45
Resistance: 141.20, 142.25, 143.15, 143.55, 144.05

Recommendation The outlook for EURJPY is positive above 140.15 and today’s risk-limit is below 139.30