EURJPY Daily Forecast Sept 04 2014

Outlook in EURJPY has tuned neutral at the moment , resistance comes at the 138.27 levels while support comes at the 137.67 levels , On the upside , to resume the bullish offensive , 138.27 should be taken out on a daily closing basis , If seen , next resistance would be the 139.27 , a halt is likely , but a break  would extend gains towards the 140.08 levels and possible higher towards the 140.94 levels.

On the downside , support comes at the 137.67 levels, losing this level on a daily closing basis will pave the way towards the 136.41 levels , If this level fails, expect the pair to weaken further towards the 135.72 levels  before the next rise , below the 135.72 will bring a free fall towards the 134.09 levels..

In all , the EURJPY is likely to consolidate within 137.67/138.27 levels , below 137.67 will open 136.41/135.72 levels , while above 138.27 will open the 1329.27 levels and possible higher towards the 140.08/140.94 levels…

 

EURJPY_ Daily Forecast Sept 04 2014

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