FBS: Trading recommendations for EUR / JPY
Tatiana Norkina, an analyst at FBS
A repeated attack of the bulls for 136.00 figure failed again. This is the final time it happened. During the morning trade the pair broke below 135.80 support and formed a new local minimum at 134.10.
The bulls are trying to regain the lost ground but rising above 135.20 / 30 won’t be easy for them.
Bollinger indicator shows the development of bearish trend. Oscillators are also tuned the same way and are moving in a downward direction. That’s why shorts will be relevant again in resistance 135.00 / 135.20 today.
Technical levels: Support - 134.60, 133.35; resistance - 135.00, 135.80.
1. Sell - 135.20 / 30; SL - 135.80; TP1 - 133.35.