For intraday trading session Euro Yen technical view is slightly positive and leaves assume further price increases.
Euro Yen close last friday was at 114.01 (+0.44%). For intraday trading session the technical view is positive and leaves assume further price increases. However, we can’t exclude retracements towards the most significant support levels. The major oscillators confirm the moderate upward trend.
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Simple Moving Average (SMA)
The price is above the 14 days moving average (SMA value is 113.33). The short term view is therefore slightly bullish, however for today trading session we can’t exclude retracements towards the most significant support levels.
Support and Resistance levels
7, 15 and 30 trading days Performance. Support, Resistance and Pivot Point levels. Last updated closing price: 26/08/2016
Performance: 7 trading days= +0.33% – 15 trading days= +0.55% – 30 trading days= -2.98%
Resistance levels: R1= 114.38 – R2= 114.76 – R3= 115.75
Pivot Point: 113.77
Support levels: S1= 113.39 – S2= 112.78 – S3= 111.79
Buying opportunity above 114.24 targets minor resistance at 114.80 and perhaps as far as strong resistance at 115.14, where sellers could regain control. Above that level it could trigger an acceleration to the upside with the next target at 115.77.
Selling opportunity below 113.77 targets minor support at 113.25 and perhaps as far as strong support at 112.89, where buyers could get back into the market. Below that level we could expect a bearish downward movement with the next target at 112.28.