Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro: EUR/JPY breaks above major resistance zone 114.73-80, good to go long on dips

  • EUR/JPY has shown a clear breakout above 50-DMA.
     
  • The pair has also broken above major resistance zone at 114.73-80.
     
  • Momentum studies are bullish, Stochs and RSI are biased higher.
     
  • Major support levels - 114.73 (double top), 114.32 (50-DMA), 114.
     
  • Major resistance levels - 115, 115.50 (June 16 low), 116.03 (cloud base).

Recommendation: Good to go long on dips around 114.80, SL: 114.30, TP: 115.50/ 115.75
 

  • Market Data
Close

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.