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| Technical Analysis for EUR/JPY 13-7-2015 |
Eur/Jpy pair moved last Friday in the average price movement of 312 PIPs, it recorded the highest level at 137.27 and the lowest at 134.15 and closed at 136.96 to Gain 276 PIPs during Friday’s trading after we saw Signs of hope to end Greek crisis.
The pair opened today at 136.45 oscillatory between the 136.12 and the 136.70 levels during the Asian session in a trading average of 58 pips for the limitation of the market liquidity, and in the European session the pair went up to 137.79 and then fall down again to 136.40
The pair is moving in a series of down correction waves after breaking the parallel price channel.
It is expected that the pair eur/jpy will reach the targeted level at 138.10 in the next few hours.
The Relative Strength Indicator "RSI" reveals that the accumulation operations at the market and the control of Bulls on the market.
Medium term trend: Down
Support levels: 134.98 and 133.00 and 131.86
Resistance levels: 138.10 and 139.24 and 141.22
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