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FBS: Trading recommendations for EUR / JPY

Tatiana Norkina, an analyst of FBS

 

The currency pair is difficult to hold above the support level of 136.30. Today, bears take again priority of breaking this level down on the market. Obviously the raiding will be continued in the near future.

Bollinger band supports this idea completely: the Moving Average has turned down, and the tape is extended pointing to strengthening of the bearish pressure.

Oscillators are also on the side of the bears today. MACD histogram has gone into negative range, but the RSI is moving smoothly to the bottom of the channel.

Therefore the selling of the currency pair can be relevant only.

Technical levels: Support - 135.00, 135.80; resistance - 136.30.

Trading recommendations:

 

1. Sell - 136.00; SL - 136.30; TP1 - 135.00.

 

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