fxpulsation
Posts : 8759
Join date : 2012-01-25
 |  Subject: Technical Analysis for EUR/JPY  Wed Mar 20, 2013 9:17 am | |
| Technical Analysis for EUR/JPY The EURJPY pair resumed the bearish bias after testing 124.00 resistance yesterday, the pair closed yesterday’s session slightly below the 50-days SMA, while RSI turned negative. Accordingly, we have a bearish bias towards the pair today, where a break below 121.80 could accelerate its losses. Support: 121.60, 121.10, 120.35, 118.80, 118.00 Resistance: 122.70, 123.15, 124.10, 124.60, 125.00 Recommendation Based on the charts and explanations above, we prefer to short the pair below 122.70, targeting 121.80, and 121.00. Stop loss above 123.70.  | |
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