EURJPY Weekly Forecast May 05 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 141.83 levels , a break would open the 143.60   levels , further upside will 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 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 , outlook in EURJPY remains on  upside towards the 141.85 levels ahead of the 143.47 levels , below 139.15 will turn outlook  for retesting the 137.43/136.22 levels before the next possible rise…..

 


EURJPY Weekly Forecast May 05 _2014

MARKET DATA

UPCOMING ECONOMIC EVENTS