EURJPY Technical Analysis (2-6 February,2015) | January 31, 2015

EURJPY is near to support area. 132.35-132.50 area is acting as good support for this pair. If we can see any bullish candle on this level, then we will buy from this level. For buy entry, target will be 134 area. On the other hand, if it break this support area, then we can take sell entry and target will be 131 area.


In Technical Indicators view

In daily chart, MACD indicator is staying just below of 0.0 level. So if it break the support area, then sell is confirmed in this pair

In daily chart, RSI indicator is below 50 level which indicates neutral mode. If this indicator stays below 50 level then we can take sell entry.

50, 100, 200 Moving averages are giving sell signals.
In summary, we can see down pressure on this pair. So our recommendation on this pair is to wait for breakout of the support level.



Weekly Pivot, Support and Resistance

Resistance Two (R2): 136.55

Resistance One (R1): 134.59

Pivot Point: 132.36

Support One (S1): 130.40

Support Two (S2): 128.17