EURJPY Weekly Technical Outlook (2-6 March, 2015) | February 28, 2015

Eurjpy is staying above critical support area. 133.50-133.80 level is very important level for this pair. If this pair break this level, we can see rapid fall on this pair. After breakout, downward rally can extend to 132.40 area and then physiological level 130 area for long term. On the other hand, if this pair can hold this support area and stay above this level, then we can expect pull back from this level. When we will find bullish candle or pin bar candle from that level on eurjpy, then we can go for buy. On H4 time frame, we can see a bullish pin bar. So we can buy from this support area. Target will be 135 and then 137 area.



Weekly Pivot, Support and Resistance

Resistance Two (R2): 136.56

Resistance One (R1): 135.20

Pivot Point: 134.31

Support One (S1): 132.95

Support Two (S2): 132.06