EURJPY Technical Analysis (9-13 February,2015) | February 8, 2015

EURJPY is facing resistance at 135.20 area. It will be critical level for this pair. If it can break this level, we can see more bullish movement on this pair. After breakout next target for this pair will be 137.20 resistance area. On the other hand, before ending previous week, this pair tried to break this resistance, but it can not break last week. So if it hold this resistance, then we can see bearish movement on this pair.


In Technical Indicators view

In daily chart, MACD indicator is still below 0.0 level and this indicates sell pressure on this pair

In daily chart, RSI indicator is also below 50 level and we need to wait for break 50 level for taking buy entry.

As this pair has huge down pressure, 50, 100, and 200 Moving averages are giving sell bias.

In summary, indicators are giving sell signal. So if this pair holds resistance, then we can sell on this pair.



Weekly Pivot, Support and Resistance

Resistance Two (R2): 137.20

Resistance One (R1): 135.99

Pivot Point: 134.13

Support One (S1): 132.92

Support Two (S2): 131.06