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USDJPY - correction should be ideally contained at 122.30, 10SMA / Fibo 38.2% support

Discussion in 'Technical Analysis' started by FXStreet_Team, Nov 13, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    EURUSD The Euro came under pressure after yesterday’s recovery extension above three-day congestion tops stalled at 1.0828 and today’s renewed upside attempts were capped at 1.0816. Falling 10SMA, which limited recovery action, marks strong resistance, which is expected to ideally cap and keep intact daily Tenkan-sen at 1.0850. Bearish daily structure and weakening near-term technicals, favor fresh downside, as the pair so far ignores reversed daily slow Stochastic that shows more room for

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