Technical Analysis for EUR/JPY

Technical Analysis for EUR/JPY

EUR/JPY is trading in levels above Linear Regression Indicator 55 but, Stochastic rather displays overbought status. We require better signals showing a clearer direction of the pair to place our odds as we prefer to stay neutral in the European Session. LRI 55 lies at price level 125.30 – represents focal point of determining intraday bullish or bearish trends.

The trading range expected today is between the key support at 123.50 and the key resistance at 127.35

The short-term trend is upside targeting 128.75 if 109.45 remains intact at weekly closing

Support: 125.30, 125.00, 124.85, 124.10, 123.50
Resistance: 125.70, 126.00, 126.80, 127.10, 127.35

Recommendation Based on the above graph and explanation, we recommend neutrality searching for signs of a clearer direction