EUR/JPY Exhaustion Support Levels |
|
The EUR/JPY is trading lower on what is likely profit taking after a strong session. The current pullback however has taken the pair below the 114.00 major psychological level.
Summary
| Target Level | 112.2 | |
| Target Period | 8 hours | |
| Stop Level | 114.41 |
Analysis
Channel Up identified at 27-Jul 23:00 GMT. This pattern is still in the process of forming. Possible bearish price movement towards the support 112.2 within the next 8 hours.
Resistance Levels
| (B) | 114.41 | Last resistance turning point of Channel Up. |
Support Levels
| (E) | 112.91 | Last support turning point of Rising Wedge. | |
| (A) | 112.2 | Last support turning point of Channel Up. | |
| (H) | 111.45 | Last support turning point of Ascending Triangle. | |
| (G) | 110.0 | Last support turning point of Ascending Triangle. |
Filed under: Chartology
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