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USDJPY - recovery rally shows signals of stall ahead of strong 110.00 barrier

Discussion in 'Technical Analysis' started by FXStreet_Team, Apr 15, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    EURUSD The Euro remains at the back foot, following break below 1.1300 handle, which now marks initial resistance, but yesterday’s long-legged daily candle, signals a pause in steep descend off 1.1463 peak. The pair closed at 1.1265 yesterday (Fibo 61.8% of 1.1143/1.1463 upleg), which was cracked on spike to 1.1232, but so far lacking firm break, which will generate another bearish signal. Near-term action is entrenched within narrow consolidation range, with bearish tone persisting on lower

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