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EURJPY: Looks To Put In Temporary Bottom

Discussion in 'Forex Trading Signals & Forecasts' started by Sandra S., Feb 9, 2016.

  1. Sandra S.

    Sandra S. Forum Member

    Sep 1, 2015
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    EURJPY - With price rejection now seen, the pair looks to put in temporary bottom. Unless the pair returns below the 128.26 level, we think a corrective recovery should occur. On the downside, support comes in at the 129.00 level where a break will aim at the 128.50 level. A turn below here will target the 128.00 level with a breach turning focus to the 127.50 level. Its daily RSI is bullish and pointing lower suggesting further weakness. Conversely, resistance lies at the 130.00 level.

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