EURJPY TECHNICAL ANALYSIS

Here is an EURJPY Technical Analysis on the H4 time frame. It is a major currency pair and one of the 21 currency pairs that we cover in our Forex Signals App that is available on both Android and iTunes. You can also view the Forex Signals App video demo.

EUURJPY on the H4 Time Frame

Price is currently trading above the 15 and 30 EMA. Price is at the mid-range of the channel and may continue dropping lower.

Additional points on EURJPY

Resistance level lies at the 120.682 zone

Support level lies at the 119.974 zone

Micro-trend can be seen.

MACD is in red and above the zeroline which gives signs of price dropping. Zeroline is also yellow, thus showing very strong momentum.

Conclusion

If the price drops below the support level at the 120.392 zone, we are looking to SELL.

If price continues to increase, we are looking to SELL when price touches the resistance level at the 120.682 zone.

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Have a great trading day ahead!

Ardy Ismail

Currency Strategist

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