EURJPY Weekly Technical Analysis (18-22 May,2015) | May 16, 2015

Eurjpy has reached to its important resistance level. It can be very important for this pair. We will look for bearish sign on this level for going sell from that area. We can see that 100 SMA is staying just above the resistance. So we can wait for bearish candle or pin bar from that area. 136-137 area will act as very strong level for this pair. So it is better to wait for confirmation before taking any entry.


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Weekly Pivot, Support and Resistance

Resistance Two (R2): 138.98

Resistance One (R1): 137.83

Pivot Point: 135.6567

Support One (S1): 134.50

Support Two (S2): 132.32