Euro Yen: short term scenario is mildly bearish

Euro Yen technical overview is neutral within a mildly bearish short term scenario. Selling opportunity below 113.16.

Euro Yen pair October 25, 2016 closing price was unchanged (-0.04%) at 113.4. Technical overview is neutral within a mildly bearish short term scenario. For today trading session we expect prices movements between support and resistance levels. Momentum indicator show negative values.

euro yen mildly bearish scenario

View the interactive chart on ProRealTime.com

Simple Moving Average (SMA)
Prices are below the 14 days moving average (SMA value is 114.28). The short term view is still bearish, however for today trading session we can’t exclude retracements towards the most significant resistance levels.


Support and Resistance levels
7, 15 and 30 trading days Performance. Support, Resistance and Pivot Point levels. Last updated closing price: 25/10/2016

Performance: 7 trading days= -0.83% – 15 trading days= -2.17% – 30 trading days= -1.67%

Resistance levels: R1= 113.76 – R2= 114.13 – R3= 114.71
Pivot Point: 113.55
Support levels: S1= 113.18 – S2= 112.97 – S3= 112.39


Buying opportunity above 113.63 targets minor resistance at 114.18 and perhaps as far as strong resistance at 114.52, where sellers could regain control. Above that level it could trigger an acceleration to the upside with the next target at 115.15.

Selling opportunity below 113.16 targets minor support at 112.64 and perhaps as far as strong support at 112.29, where buyers could get back into the market. Below that level we could expect a bearish downward movement with the next target at 111.68.

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