FxWirePro: EUR/JPY fails at 100-DMA, bias lower, stay short
Friday, October 7, 2016 6:11 AM UTC
- 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.