Technical Analysis – EURJPY short-term bearish after failure to breach 116.35
Posted on October 19, 2016 at 7:55 am GMTEURJPY hit a 3½ -year low in the immediate aftermath of Brexit, but it has since been in a range of 110.81 to 118.45. On the day of the referendum result announcement, the market was very volatile and possibly illiquid, therefore the low we shall use for our analysis will be 110.81 (July 6) instead of the June 24 spike down to 109.36. Despite the consolidation that has taken place since Brexit, the trend is still bearish as price action lies [..]