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.
Resistance level lies at the 120.682 zone
Support level lies at the 119.974 zone
Micro-trend can be seen.
Additional points on EURJPY
MACD is in red and above the zeroline which gives signs of price dropping. Zeroline is also yellow, thus showing very strong momentum.
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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