After the
Euro dropped versus the Yen at the beginning of today’s trading session, the
pair went back up rapidly and broke the 135.00 level to get to the 136.00 and
break this level as well to touch the 55 period Exponential Moving Average
(purple line) around the 136.41 level. The 55 EMA has proven to be a good
resistance in the past, but a breakout of that zone could take the price all
the way to the 200 EMA (blue line) around the 137.41.
If the
price continues going higher and touches the 200 EMA, there is a good
probability of prices stalling there and even try to bounce to the downside.
Therefore, we must be attentive to the next moves on the EUR/JPY, because we
may get some good opportunities to open new positions.
Great analysis! I'll be very careful with this asset.
ReplyDeleteGood point, I have to pay more attention to these indicators.
ReplyDeleteI agree with the analysis, good point.
ReplyDeleteThis analysis is very useful! Thank´s.
ReplyDeleteGreat point, thanks.
ReplyDeletegreat analysis, I'll keep an eye on the market
ReplyDeleteAlways enjoy… Thanks!
ReplyDelete