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EURJPY Sees Bull Pressure But With Caution

Discussion in 'Forex Trading Signals & Forecasts' started by Sandra S., Feb 1, 2016.

  1. Sandra S.

    Sandra S. Forum Member

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    EURJPY: Having rallied strongly the past week, we envisage further strength to occur. However, with almost a half of that rally taken back, a correction could be developing ahead of its medium term falling trendline (red). Support comes in at the 131.00 level where a break will aim at the 130.50 level. A turn below here will target the 130.00 level with a breach turning focus to the 129.50 level. Conversely, resistance lies at the 132.00 level. Further out, resistance comes in at the 132.50

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