FBS: trading recommendations for EUR/JPY
Tatiana Norkina, an analyst of FBS
The currency pair is expected to meet the barrier in the range of 135.80/136.00. Today the bears launched the offensive again, which resulted the decreasing of the pair to 135.35 level.
Prices are at the lower bound of Bollinger Bands. Oscillators were turned down, denoting the end of the corrective recovery: MACD histogram is increasing in the top-down direction; RSI line also set to move down. Obviously, there will be the renewal of the lows soon.
Therefore, yesterday's short positions can be held to achieve the stated goals and added at the breaking of 135.30 support level.
Technical levels: Support - 135.00, 134.60, 133.35; resistance - 135.80.
1. Sell - 135.30; SL - 135.80; TP1 - 134.60; TP2 - 133.35.