EUR/JPY Technical Analysis: Key Support Just Above 146.00


(MENAFN- DailyFX) DailyFX.com - r>

To receive Ilya's analysis directly via email please SIGN UP HERE

Talking Points:

  • EUR/JPY Technical Strategy: Flat
  • Support: 146.08 143.79 141.95
  • Resistance:148.40 149.78 151.21

The Euro is reversed lower against the Japanese Yen as expected after prices put in a bearish Dark Cloud Cover candlestick pattern. A daily close below the 23.6% Fibonacci expansion at 146.08 exposes the 38.2% level at 143.79. Alternatively a reversal above trend line support-turned-resistance at 148.40 opens the door for a test of the December 5 high at 149.78.

An actionable trade setup is absent for the time being. We will stand aside waiting for the pair to produce a better-defined long or short trade opportunity.

Add these technical levels directly to your charts with our Support/Resistance Wizard app!

EUR/JPY Technical Analysis: Key Support Just Above 146.00

Daily Chart - Created Using FXCM Marketscope

--- Written by Ilya Spivak Currency Strategist for DailyFX.com


original source


DailyFX

Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.