EURJPY Technical Analysis (5-9 January,2015) | January 3, 2015

EURJPY has rejected from fibo 38.2 level. If we draw fibo from 135.21 to 149.78, we can see that this pair got support on 38.2 level at 144.21. Another fibo 50.0 level lie on 142.50 area. On that level, we can see 100 EMA. So it will be good buy zone for this pair. We can target this zone for taking buy.
On the other side, on weekly chart, a big bearish candle is formed. So this bearish momentum can give some bearish rally on this pair. If bearish rally continues, then we can see this pair on 142.50 area.



Weekly Pivot, Support and Resistance


Resistance Two (R2): 148.38

Resistance One (R1): 146.46

Pivot Point: 145.29

Support One (S1): 143.37

Support Two (S2): 142.20