Technical Analysis – EURJPY risks more downside
Posted on July 3, 2015 at 7:23 am GMTEURJPY is capped just under the 200-day moving average. The tenkan-sen line is also acting as a barrier to the upside, so strong resistance lies at the key 137.00 level. Prior to Monday’s big drop, EURJPY was declining from 141.04. The decline paused after prices found support at the cloud on Monday and following a bounce from 133.75, the market has been consolidating. The flat tenkan-sen and kijun-sen lines suggest more sideways action. If prices fall below Monday’s low of [..]