fxpulsation
Posts : 8759 Join date : 2012-01-25
| Subject: EUR/JPY Daily Outlook Tue Nov 19, 2013 9:05 am | |
| EUR/JPY Daily Outlook Daily Pivots: (S1) 134.75; (P) 135.05; (R1) 135.36; More... With 134.47 minor support intact,, further rally is still expected in EUR/JPY through 135.50 resistance. However, we'd continue to expect strong resistance below 139.21 to bring reversal finally. On the downside, below 133.22 minor support will turn bias back to the downside for 131.21. Break there will confirm medium term topping and would turn outlook bearish. In the bigger picture, EUR/JPY is expected to top out in medium term soon, if not topped, on lost of upside momentum as seen in daily and weekly MACD. Strong resistance is expected from 139.21 and 61.8% retracement of 169.96 to 94.11 at 140.98 to complete the rally from 94.11. Break of 131.13 would confirm and would bring correction back towards 119.10 support. | |
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