EURJPY Technical Analysis (19-23 January,2015) | January 18, 2015

EURJPY bounced back from support after big fall. 135 area is critical support level for this pair. This pair fail to break this level and rejected from that area. This week will be important for this pair. If this pair hold this support, then it can start bullish rally. If it break this support level, then its fall will resume again.


In weekly chart, we can see big bearish weekly candle. It is clearly showing its bearish power. If this pair remains this bearish momentum, then this fall can extend upto 131 area.


In daily chart, we can also find bearish momentum. But it loss its bearish momentum at the last trading day. It rejected from support which can give little retracement for this pair. But our recommendation is to wait for breakout of 135 support area.



Weekly Pivot, Support and Resistance


Resistance Two (R2): 143.30

Resistance One (R1): 139.56

Pivot Point: 137.12

Support One (S1): 133.38

Support Two (S2): 130.94