Technical Analysis for EUR/JPY 1-7-2015

Technical Analysis for EUR/JPY 1-7-2015

Eur/Jpy pair moved yesterday in the average price movement of 180 PIPs, it recorded the highest level at 137.69 and the lowest at 135.88 and closed at 136.39 to Lose 125 PIPs during Yesterday’s trading according to Concern about the Greek case.

The pair opened today at 136.39 oscillatory between the 136.18 and the 136.65 levels during the Asian session in a trading average of 47 pips for the limitation of the market liquidity.

The pair is moving in a series of down correction waves after breaking the price channel.

The pair achieved our target at 137.70

So it is expected that the pair eur/jpy will reach the targeted level at 135.20 in the next few hours.

The Relative Strength Indicator "RSI" reveals that the distribution operations at the market and the control of Bears on the market...

Medium term trend: Down

Support levels: 135.61 and 134.84 and 133.80

Resistance levels: 137.42 and 138.46 and 139.23

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