Friday 24 July 2015

EUR/JPY Forex Technical Analysis Today

EUR/JPY Forex Technical Analysis and Signal
EUR/JPY


TECHNICAL ANALYSIS :-
The primary trend of EUR/JPY is bearish on charts and from past few trading sessions prices are not sustaining at lower levels & consolidating near the important level of 127.85. In its hourly chart, prices are consolidating with strong positive bias to give break out at upside. It is also taking support of 30 DMA. If the pair breaks the resistance level of 127.85 at upside then we can expect it to test its 200 DMA and come till the levels of 128.35/128.65.


INDICATORS:-
RSI is sustaining in buying territory supporting the upcoming bullish trend in the pair.
MACD line is also sustaining above the zero line indicating the bullish trend in the pair.

EUR/JPY Technical Analysis and Forex Strategy
Technical Chart

STRATEGY:- EURJPY has bounced back from the lower level & looking bullish on charts for next few session. One can go for buy on dips strategy for this pair for intra day to mid term positions.