EURJPY Weekly Technical Analysis 11-15 January, 2016 | January 9, 2016

Eurjpy has broken its support level at 130 area. It has also broken downward wedge pattern also. Now this pair is trying to retest of the broken wedge pattern. On the chart we can see that this pair has touched it broken level. So now this pair can start sell rally again.


Next week we can see sell rally on this pair. Next target can be 126 level. On the other hand, there is a chance to pull back on this pair.


On daily chart, we can see a bullish pin bar candle which indicates bullish momentum on this pair. So this pair is looking for bullish momentum. Buyers are ready to take control on this pair. So we can go for buy if we can find bullish candle confirmation from h4 time frame.