EUR/JPY Technical Analysis
(Euro / Yen)

eurjpy
eurjpy


Information
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Updated the:
07/23/2014
EUR/JPY : Be prepared for the correction. We're waiting the signal...

Sentiment :
sentiment sur la parité AUD/USD
137.50
sentiment sur la parité AUD/USD
137
sentiment sur la parité AUD/USD

--- Follow up analysis ---
The pair EUR/JPY validated yesterday a breakout of the fibonacci retracement 61.80% (136.76 points), giving us a new sell signal.
The price is now moving below the support line of the short / medium term bearish channel (purple lines on the 1H).

The price has found support on the fibonacci retracement 61.80% (136.76 points) and is currently testing a pullback as resistance on the support line of its short term bearish channel  (purple lines on the 1H).

I would advise traders to trade only short positions (sell) as far as 137 is resistance.
A break of 136.23 (low of 2014 formed in February) points will offer a new sell signal for a pursuit of the bearish rally to 135.50 points (highs fomed in October 2013)

In case of return above 137 points, i advise to stay neutral on the pair and to wait a return below 137.50.
Full analysis

Analysis published by Vincent, the 07/23/2014 at 10h00 GMT+2


Chart of the pair EUR/JPY - Timeframe 1H
EUR/JPY Technical Analysis

Chart of the pair EUR/JPY - Timeframe 4H
EUR/JPY Technical Analysis

Live EUR/JPY Chart - Timeframe : 1H*
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