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EURJPY came under increasing downside pressure following breaking 130

Discussion in 'Current Market Sentiments' started by fx-recommends, Jan 6, 2016.

  1. fx-recommends

    fx-recommends Content Contributor

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    EURJPY Daily 06-01-2016 07-08-22 ص.jpg

    After forming a lower top at 134.57 on last Dec. 4, EURJPY started to set back again, before watching increasing of the downside momentum significantly this week by breaking of 130 psychological level which opened the door for breaking 129.65 supporting level which could prop up this pair on last Nov. 27, before residing now for trading near 127.50

    EURJPY sever slide leaded its daily Stochastic Oscillator (5, 3, 3) which is sensitive to the volatility to have now its main line in the oversold region below 20 reading 10.143 and also its signal line which is reading 13.521.

    Important levels: Daily MA50 @ 131.84, Daily MA100 @ 133.57 and Daily MA200 @ 134.30

    S&R:

    S1: 126.07
    S2: 124.89
    S3: 119.09
    R1: 129.46
    R2: 132.78
    R3: 134.57


    Have a good day

    Walid Salah El din
    Senior Market Analyst
    Skype : chief.economist.walid

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