30 Apr 2019
EUR/JPY Technical Analysis: Bulls hold back above 38.2% Fibo
- EUR/JPY is non-directional on the charts but has an upside bias according to stochastics and price positioning within the symmetrical triangle.
- Bulls will be looking for the 127 handle and resistance and the 200-DMA (127.50). resistance triangle On a break of
- On a break of 124.80, risk would be for a subsequent test of trend line support guarding the 38.2% Fibo.
- Below 123.40 (Jan 7 and Jan 15 lows) opens of the 50% Fibo at 123.02.
- A break there will likely see the price continue in its southerly trajectory, extending last September's bear trend.
