The most interesting pair you can make money with - EUR/JPY

EUR/JPY: weekly breakdown. This pair is on bearish market condition located near and below Ichimoku cloud in the primary bearish area of the chart. The price is ranging within the following key reversal support/resistance levels:

• 141.04 resistance level located above Ichimoku cloud in the primary bullish area of the chart, and
• 126.08 support level located below Ichimoku cloud in the bearish area of the chart.
  

The price broke 131.44 support level from above to below on open weekly bar for the bearish breakdown to be continuing with 126.08 as the next bearish target. Absolute Strength indicator is estimating the ranging trend.

There are 3 simple scenarios for the price movement for the week:

• bearish breakdown to be continuing in case the price breaks 131.44 support on close weekly bar,
  
• bullish reversal to be started in case the price breaks 141.04 resistance from below to above,
• or the ranging within the levels.
  

Chinkou Span line crossed the price to below for the breakdown.

There are the following news events which will be affected on EUR/JPY price movement for the week:

• 2015-11-18 23:50 GMT | [JPY - Trade Balance]
• 2015-11-19   n/a  GMT | [JPY - Monetary Policy Statement]
• 2015-11-19 15:00 GMT | [USD - Philadelphia Fed Business Outlook Survey]
• 2015-11-20 08:00 GMT | [EUR - ECB President Draghi Speaks]