Quick Technical Overview - Short EUR/JPY: weekly/monthly breakdown

Quick Technical Overview - Short EUR/JPY: weekly/monthly breakdown

11 November 2015, 09:11
Sergey Golubev
0
803

EUR/JPY: bearish breakdown. The price is located below Ichimoku cloud in the bearish area of the chart for the ranging:  price is breaking 131.44 support level for the bearish breakdown to be continuing:

  • If the price breaks 131.44 support from above to below on close weekly bar so the bearish breakdown will be continuing up to 126.08 as the next bearish target.
  • If the price breaks 126.08 key support from above to below so the bearish trend will be continuing up to new 'bottom' (new support level) to be forming.
  • If the price breaks 137.43 resistance from below to above so the reversal from the primary bearish to the primary bullish condition will be started.

Chinkou Span line is breaking the price from above to below for the bearish breakdown to be continuing.

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

  • 2015-11-11 13:15 GMT | [EUR - ECB President Draghi Speaks]
  • 2015-11-12 14:30 GMT | [USD - Fed Chair Yellen Speaks]
  • 2015-11-13 07:00 GMT | [EUR - German GDP]
  • 2015-11-13 13:30 GMT | [USD - Core Retail Sales]
Resistance
Support
137.43131.44
141.06
126.08

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