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EURJPY Weekly Technical Analysis 25-29 January, 2016 | January 24, 2016
Eurjpy had failed to break 127.70 support level. A big bullish pull back candle has been formed from the support level. This candle indicates bullish momentum on this pair. So this pair should follow this momentum. We need to stay on this bullish momentum of this pair.
Now this pair has touched downward trend line. If it can break this trend line, then we can go for buy on this pair. 128.60 level can be near term resistance for this pair. So we need to wait for breakout of this level. After breakout, we can wait for retest of the broken level, then we should take buy entry.
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