Technical Price Action Analysis - EURJPY with ranging within 100 SMA and 200 SMA

Technical Price Action Analysis - EURJPY with ranging within 100 SMA and 200 SMA

14 October 2015, 15:11
Sergey Golubev
1
1 428

W1 price is located between 200 SMA and 100 SMA with the ranging market condition within the primary bullish:

  • The price is above 200 SMA for the bullish market condition.
  • Symmetric triangle price pattern was formed by the price to be crossed for direction.
  • 'Reversal' support level is 126.08 located near 200 SMA in the bearish area of the chart.
  • 'Reversal' resistance level is 141.04 located near 100 SMA in the bullish area of the chart.

Trend:

  • W1 - ranging
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