The Euro
versus the Yen has not taken a clear direction since it came and visited the
124.00 level. On the daily chart we can see that the bullish momentum that it
had a couple of day back, has now been lost around that zone. The bearish trend
in the middle term stays in place, but the pair may try to go and visit the
125.00 level. That level of the 125 may act as resistance due to the fact that
in the past it acted as support. To the downside, the 122.00 zone could act as
support. This Thursday’s opening may give clues as to which direction the
EUR/JPY is planning on taking.
Looks like it will keep pushing higher.
ReplyDeleteGreat analysis! Congratulations.
ReplyDeleteThe pair did visit 125.00 but couldn't break above that level.
ReplyDeleteThe Daily SMA50 @ 125.015 worked perfectly as a resistance level.
ReplyDeleteVery helpful analysis, I will keep it in mind.
ReplyDeleteQuite accurate analysis.
ReplyDeleteUseful analysis.
ReplyDeletereally helpful, thank you
ReplyDelete