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USDJPY corrects lower post-Fed; overall bulls keep 124.14 target in focus

Discussion in 'Technical Analysis' started by FXStreet_Team, Nov 19, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    EURUSD The Euro bounced after posting fresh low at 1.0615 yesterday, on profit-taking action that peaked at 1.0717. Falling daily 10SMA, reinforced by falling daily Tenkan-sen, which maintains downmove for the past month, capped so far the rally at 1.0717. This barrier should ideally keep the upside protected, however, extension higher cannot be ruled out, as hourly studies turned positive. Overall picture remains firmly bearish and favors fresh action lower, on completion of current

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