EUR/JPY: descending movement, resistance levels, possibly new short
2 September 2015, 16:03
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EUR / JPY: Lower tops and lower ends of the 4 hours, which means that the trend is descending.
On the Daily chart, the price is trading below the diagonal support, registering lower bottom with a tick, which can still be support.
On 4 hours graph the pair moves below 25: periodic EMA, as the price is 13 EMA - levels of dynamic resistance. Moving Averages in bearish formation.
The front bar is Dodge that could mean the end of the correction and possible new bearish momentum.Indicators in negative territory CCI (50) below 0
Price correction up 61.8% on Fibonacci strong bearish bar
Sentiment: The volatility of the markets may support the yen again
Stefan D. Angelov - Head of Stocks Trading
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