FBS: trade recommendation for EUR/JPY
Tatiana Norkina, FBS analyst
The range of 142.40 / 70 restricted the bulls forcing the currency pair to step sideways as we presumed yesterday.
We should note that the Bollinger Bands narrowed to the maximum point, approving a short-term flat but the likelihood of a deeper correction to 140.80 area is still high.
Oscillators are directed downwards after the formation of divergence. That’s why yesterday's objectives remain relevant.
Technical levels: Support - 140.80; resistance - 142.40 / 70.
1. Sell - 142.40 / 70; SL - 143.00; TP1 - 141.20; TP2 - 140.80.