EURJPY Technical Outlook (26-30 January,2015) | January 24, 2015

EURJPY's sharp falling continued and made low at below 131 area. This area is good support level for this pair. So we need to wait for breakout this support area for more decline in this pair. Due to ECB press conference, this pair fell rapidly and showed its bearish power. So our weekly outlook for this pair is fully downside.


In weekly chart, we can see 4 big bearish weekly candle. It indicates its bearish momentum. In daily we can get down momentum also. So no doubt, this pair is fully on down pressure in higher time frame. So we can stay on downside for this pair.



Weekly Pivot, Support and Resistance


Resistance Two (R2): 140.21

Resistance One (R1): 136.07

Pivot Point: 133.48

Support One (S1): 129.34

Support Two (S2): 126.75