Technical Analysis – EURJPY bearish below cloud
Posted on July 11, 2014 at 7:12 am GMTThe bearish bias in EURJPY remains after the pair tumbled to a 5-month low of 137.48 on Thursday. On the daily chart, the tenkan-sen and kijun-sen lines remain negatively aligned, and the market is well below the Ichimoku cloud, highlighting the underlying bearish outlook. Momentum is bearish as RSI has fallen below 50, giving scope for further downside. The February 4 low is the next target down if support at 137.45 breaks. To the upside, resistance is seen at 139.28, [..]