(19 JUNE 2017)EUR / JPY:Monitoring symmetrical triangle

(19 JUNE 2017)EUR / JPY:Monitoring symmetrical triangle

19 June 2017, 13:57
Jiming Huang
0
15

ej


Monitoring symmetrical triangle

• EUR/JPY has bounced back after breaking 

hourly support given at 122.56 (18/05/2017 low) 

has been broken. Hourly resistance can be found 

at 125.82 (16/05/2017 high). Major support is 

given at 114.90 (18/04/2017 low). Expected to 

push higher. 

• 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 Yann Quelenn)

Share it with friends: