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FxWirePro: EUR/JPY fails at 100-DMA, bias lower, stay short

EUR/JPY fails at 100-DMA resistance, indicators turn bearish. Stochs are on the verge of rollover from overbought territory and RSI has turned south. Major support levels - 115, 115.32 (5-DMA), 115.11 (Oct 5 low), 115, 1…

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FxWirePro: EUR/JPY fails at 100-DMA, bias lower, stay short
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  • EUR/JPY fails at 100-DMA resistance, indicators turn bearish.
     
  • Stochs are on the verge of rollover from overbought territory and RSI has turned south.
     
  • Major support levels - 115, 115.32 (5-DMA), 115.11 (Oct 5 low), 115, 114.08 (20-DMA)
     
  • Major resistance levels - 115.83 (100-DMA), 116, 116.71 (110-EMA) 
     
  • Our previous call (http://www.econotimes.com/FxWirePro-EUR-JPY-finds-major-resistance-near-116-good-to-sell-rallies-335612) is progressing.
     
  • We recommend holding for targets. Bearish invalidation only on decisive break above 100-DMA.
     

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