Technical Outlook For Eur-Jpy 7-9-2015

Technical Outlook For Eur-Jpy 7-9-2015

Technical Outlook For Eur-Jpy

Eur/Jpy pair moved last Friday in the average price movement of 143 Pips; it recorded the highest level at 133.66 and the lowest at 132.22 and closed at 132.49 to Lose 100 pips during Friday’s trading.Eur/Jpy pair opened today at 132.72 oscillatory between the 132.60 and the 133.30 levels during Asian session in a trading average of 90 pips for the limitation of the market liquidity.Eur/Jpy pair are  moving in a series of down impulse waves below the trend line.

We saw the pair achieved our target at 132.20

It is expected that the pair eur/jpy will reach the targeted level at 132.05 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: 131.92 and 131.35 and 130.48

Resistance levels: 133.36 and 134.23 and 134.80

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