Euro Japanese Yen short term view remains bearish. The price is below the 14 days moving average. Selling opportunity below 127.61.
Euro Japanese Yen close slightly higher. Yesterday trading session ended at 127.88 (+0.10%). Technical analysis applied to the daily chart shows a neutral trend, so for today trading session the forecast of price movements is between support and resistance levels. The major oscillators confirm the neutral trend, no bullish or bearish signals are triggered.
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Simple Moving Average (SMA)
The price is below the 14 days moving average (SMA value is 128.79). The short term view is therefore 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: 18/01/2016.
Performance: 7 trading days= -0.19% – 15 trading days= -3.20% – 30 trading days= -4.52%
Resistance levels: R1= 128.10 – R2= 128.33 – R3= 128.93
Pivot Point: 127.73
Support levels: S1= 127.50 – S2= 127.13 – S3= 126.53
DAILY TRADING SIGNALS
Buying opportunity above 128.14 targets minor resistance at 128.76 and perhaps as far as strong resistance at 129.15, where sellers could regain control. Above that level it could trigger an acceleration to the upside with the next target at 129.85.
Selling opportunity below 127.61 targets minor support at 127.02 and perhaps as far as strong support at 126.63, where buyers could get back into the market. Below that level we could expect a bearish downward movement with the next target at 125.94.