(17 APRIL 2017):EUR / JPY:Recovery bounce back into falling  channel.

(17 APRIL 2017):EUR / JPY:Recovery bounce back into falling channel.

18 April 2017, 13:59
Jiming Huang
0
50

EURJPY

Recovery bounce back into falling 

channel. 

• EUR/JPY recovery bounce off trendline 

support at 115.95 continues, yet within falling 

channel. Next support is given at 113.73 

(09/11/2016 low). Resistance stands at 117.43 

then 122.88 (13/03/0217 high). 

• In the longer term, the technical structure 

validates a medium-term succession of 

lower highs and lower lows. As a result, the 

resistance at 149.78 (08/12/2014 high) has likely 

marked the end of the rise that started in July 

2012. Strong support at 94.12 (24/07/2012 low) 

looks nonetheless far away

(By Peter Rosenstreich )


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