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USDJPY consolidates after brief probe below 110.00 support; further downside is favored

Discussion in 'Technical Analysis' started by FXStreet_Team, Apr 6, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    EURUSD Pullback from fresh high at 1.1436 remains contained above pivotal 1.1330/00 support zone (Fibo 38.2% of 1.1151/1.1436 upleg / rising 10SMA / sideways-moving daily Tenkan-sen line), with long-tailed candles of past two days, showing existing buying interest. Supports at 1.1330/00 zone are seen as ideal reversal point of corrective pullback from 1.1436, to keep overall bulls intact. However, near-term studies remain negatively aligned, with reversed daily Slow Stochastic, heading south

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