EURJPY Weekly Forecast Apr 07 2014

Outlook in EURJPY remains neutral with risk to the upside as long as support 139.15 holds on a weekly basis , resistance comes at the 143.47 /143.78   levels , a break should recapture the 145.16/145.68 levels ,If this important resistance is taken out , expect the pair to strengthen further towards the 147.00 levels , further upside will aim the 150.00 levels.

On the downside , minor support comes at the 141.31 levels , a clear break would open the 139.95 levels , below this level will open main support at the 139.15 levels. At this point I’d expect strong support from the 139.15 levels to contain any bearish move and bring rally resumption , but If 139.15 fails , expect the pair to weaken further towards the  137.43/136.22 levels.

In all as long as support 139.15 holds , the EURJPY will remain based tot he upside towards the the 143.47/145.68 levels , below 139.15 will turn outlook neutral for retesting the 137.43/136.22 levels before the next possible rise…..


EURJPY Weekly Forecast Apr 07 2014




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