FBS: Trading recommendations for EUR / JPY
Tatiana Norkina, an analyst of FBS
The bullishness of the market participants came rather quickly to ought as soon as the currency pair could not break the barrier in the range of 137.25 this morning. Possible reversal of the two-day growth is confirmed by the divergence formed by oscillators.
The Bollinger band has changed its nature: the Moving Average is set down and the tape is likely to be expanded in the downstream.
That’s why the breakdown of support level of 136.60 is possible today to further depreciation in the range of 135.80.
Technical levels: Support - 135.80, 136.30, 136.60; resistance - 136.80, 137.00.
1. Sell - 136.80; SL - 137.00; TP1 - 136.30; TP2- 135.80.