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Forex technical analysis: Keep an eye on the EURJPY. Which way is the break?

Discussion in 'Technical Analysis' started by ForexLive, Dec 9, 2015.

  1. ForexLive

    ForexLive Forum Member

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    The range is converging on itself. Weigh in with your thoughts. Keep an eye on the EURJPY. The pair is converging on itself with lots of technical levels converging. Looking at the hourly chart, the pair has the 200 day MA a thte 133.896. The 100 hour MA comes in at 133.79. A lower trend line is at 133.65. A topside trend line comes in at 134.15. The 100 day MA is a bit higher at the 134.58 level. Traders on Thursday and Friday went up and tested that level and sold off.

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