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Forex technical analysis: EURJPY sellers try to take more control

Discussion in 'Technical Analysis' started by ForexLive, Mar 21, 2016.

  1. ForexLive

    ForexLive Forum Member

    Sep 2, 2015
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    ..but more work to be done The EURJPY over the last few days has tested a topside trend line and 200 bar MA on the 4-hour chart (green step overlay on the below chart). It has formed a lower trend line and held that line on Friday's trade. On Friday the 100 hour MA (blue line in the chart below), held resistance. Today, the 200 hour MA has been breached with most of the action today below the line. The same can be said for the 38.2% retracement level. All those are bearish for the pair.

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