Technical Analysis for EUR/JPY 7-7-2015

Technical Analysis for EUR/JPY 7-7-2015

Eur/Jpy pair moved yesterday in the average price movement of 218 PIPs, it recorded the highest level at 136.06 and the lowest at 133.90 and closed at 135.51 to Gain 150 PIPs during yesterday’s trading according to economic data.

The pair opened today at 135.51 oscillatory between the 135.21 and the 135.65 levels during the Asian session in a trading average of 44 pips for the limitation of the market liquidity, and in the European session the pair went down to 135.02

The pair is moving in a series of down correction waves below the trend line.

So it is expected that the pair eur/jpy will reach the targeted level at 134.20 in the next few hours.

The Relative Strength Indicator "RSI" reveals that the distribution operations at the market and the control of Bears on the market...

Medium term trend: Down

Support levels: 134.25 and 132.99 and 132.09

Resistance levels: 136.41 and 137.31 and 138.57

For More Technical Outlook FxStations