EURJPY hourly alaysis

jonsmith

Master Trader
Sep 7, 2015
187
0
47
SELL

SUMMARY:
The primary trend of EURJPY is bullish on charts. In its hourly chart, the pair is not sustaining at higher levels and consolidating with strong negative bias to show bearish movement. Its 30 and 200 DMA are also providing resistance to the prices supporting the further down trend. If it breaks its support level of 135.25 & sustains below it then it is expected to show further bearish movement in next few days.

INDICATORS:-
In MACD
Prices are sustaining in the selling territory, supporting the down side movement in the market.
RSI - Prices are sustaining near the selling territory, indicating the downside movement in the market.

STRATEGY:- EURJPY is looking bearish on charts for next few trading sessions. One can go for sell on higher level strategy for this pair for intra day to mid term positions.

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