fxpulsation
Posts : 8759
Join date : 2012-01-25
 |  Subject: Technical Analysis for EUR/JPY  Wed Mar 27, 2013 8:35 am | |
| Technical Analysis for EUR/JPY The EURJPY pair found support at the bottom of a symmetrical triangle pattern, the pair needs a break below this support to confirm a bearish breakout that may target 116.50 support. The ability to hold below the 50-days SMA within the past few days supports the idea of breaking to the downside, however, we prefer to see a break below the support first. Accordingly, we move to the sidelines for now Support: 121.60, 120.85, 120.30, 120.00, 119.20 Resistance: 121.80, 122.30, 122.80, 123.35, 123.80 Recommendation Based on the charts and explanations above, we prefer to be neutral  | |
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