EUR/JPY stays above the 200-day moving average
By
Felipe Erazo
PUBLISHED:
23 Apr 2014 @ 03:23
|
Comments (0)
|
More info about Felipe Erazo
The EURJPY is very strong in the bullish bias due to rebound this pair did in the 200 SMA
The EURJPY is trying to consolidate above the 200 SMA. Nevertheless, this pair has not yet formed a bullish pattern that could confirm this bullish consolidation. However, if the EURJPY manages to make a breakout on the resistance level of 141.88, the next target would be the level of 142.10. Moreover, if this pair able to consolidate below pivot point would be expected to drop to the support level of 141.32.
The MACD indicator is entering neutral territory.
CLICK HERE TO REGISTER FOR FREE ON ADVFN, the world's leading stocks and shares information website, provides the private investor with all the latest high-tech trading tools and includes live price data streaming, stock quotes and the option to access 'Level 2' data on all of the world's key exchanges (LSE, NYSE, NASDAQ, Euronext etc).
This area of the ADVFN.com site is for independent financial commentary. These blogs are provided by independent authors via a common carrier platform and do not represent the opinions of ADVFN Plc. ADVFN Plc does not monitor, approve, endorse or exert editorial control over these articles and does not therefore accept responsibility for or make any warranties in connection with or recommend that you or any third party rely on such information. The information available at ADVFN.com is for your general information and use and is not intended to address your particular requirements. In particular, the information does not constitute any form of advice or recommendation by ADVFN.COM and is not intended to be relied upon by users in making (or refraining from making) any investment decisions. Authors may or may not have positions in stocks that they are discussing but it should be considered very likely that their opinions are aligned with their trading and that they hold positions in companies, forex, commodities and other instruments they discuss.