FBS: Trading recommendations for EUR / JPY
Tatiana Norkina, an analyst at FBS
It’s difficult for a currency pair to hold above 136.30 support. The bears take advantage of punching this level down on today’s market again. The depreciation will obviously continue in the near future.
Indicator Bollinger fully supports this idea: the moving average turned down, and the tape extends pointing to strengthening of the bearish pressure.
The oscillators are also on the side of the bears. MACD histogram has gone into the negative zone but the RSI is moving smoothly to the bottom of the channel.
Therefore only sell of a currency pair could be relevant further.
Technical levels: Support - 135.00, 135.80; resistance - 136.30.
1. Sell - 136.00; SL - 136.30; TP1 - 135.00.