EURJPY Weekly Forecast Sept 08 2014

Outlook in EURJPY remains cautiously on the downside as long as resistance 136.72/138.27  holds on a weekly closing basis , support comes at the  135.72 levels , to resume the downside trend , sustained trading -weekly closing – below the 135.72 levels should be seen , If seen , the pair will extend losses  towards the 134.00 levels ahead of the 132.19/131.20 levels . At this point I’d expect strong support form 132.19/131.20 levels to contain fall from the 145.74 levels and bring reversal .

On the upside resistance comes at the 136.72  levels , sustained trading – weekly closing – above this level will turn outlook neutral for retesting the 138.27 levels before the next fall  . If this important resistance is taken out , expect the pair to strengthen further towards the 139.27/140.08 levels…

In all, as long as resistance 138.27  holds on a weekly closing basis , outlook in EURJPY remains on the downside towards the 135.72 levels and possible lower towards the 134.00/132.19/131.20 levels …Above the 138.27 levels will reverse risks towards the 139.27/140.08 levels before the next move….


EURJPY Weekly Forecast Sept 08 2014