EURJPY Weekly Forecast 13 -17 Jan

Recommendations: LONG positions above 141.40 with  143.20 & 144.20 as next targets.
Alternative scenario:The downside breakout of 141.40 will open 140.40/139.40 levels.
Description: Initial bias is neutral this week for EURJPY pair, main support comes at the 141.40 levels , stability above this level on a 4 hour closing basis would build pressure on the 143.20 levels , at this point we might see hesitation around this area, but break of 143.20 would open 144.20 ahead of 145.20 levels. On the downside ; stability below 141.40 on a 4 hour basis will target 140.40 where a breach will turn focus on the 139.40 levels…

Support and resistance  :  138.40, 139.40,140.40,141.40 (Pivot) , 142.20  , 143.20 , 144.20 , 145.20,146.20





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