Technical Outlook For Eur/JPY 31-8-2015

Technical Outlook For Eur/Jpy 31-8-2015

Technical Outlook For Eur/Jpy

Eur/Jpy pair moved last Friday in the average price movement of 132 Pips; it recorded the highest level at 136.60 and the lowest at 135.28 and closed at 136.05 to Lose 15 pips during Friday’s trading.

The pair opened today at 135.89 oscillatory between the 135.70 and the 136.30 during the Asian session in a trading average of 60 pips for the limitation of the market liquidity.

The pair is moving in a series of down impulse waves after breaking the triangle.

We saw the pair was trading closer to our target at 136.15

It is expected that the pair Eur/Jpy will reach the targeted level at 135.40 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: 135.35 and 134.65 and 134.03

Resistance levels: 136.67 and 137.29 and 137.99
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