EUR/JPY breaks below 100-DMA, good to short rallies
EUR/JPY has broken below major moving averages and is trading with a bearish bias.
Momentum has turned bearish, RSI has slipped below 50 level and Stochs have turned lower from overbought levels.
The pair has broken below 100, 50 & 20 DMAs at 114.46, 114.34 and 114.32 respectively.
Major support levels - 113.81 (Sept 7 low), 113, 112.61 (Oct 21 low), 112 (channel base)
Major resistance levels - 114.32 (20-DMA), 114.46 (100-DMA), 114.76 (session high)
Good to go short on rallies around 114.40/55, SL: 115, TP: 114/ 113.80/ 113/ 112.60
Momentum has turned bearish, RSI has slipped below 50 level and Stochs have turned lower from overbought levels.
The pair has broken below 100, 50 & 20 DMAs at 114.46, 114.34 and 114.32 respectively.
Major support levels - 113.81 (Sept 7 low), 113, 112.61 (Oct 21 low), 112 (channel base)
Major resistance levels - 114.32 (20-DMA), 114.46 (100-DMA), 114.76 (session high)
Good to go short on rallies around 114.40/55, SL: 115, TP: 114/ 113.80/ 113/ 112.60