With no economic reports in Japan, EURJPY is massively under the influence of reports concerning euro zone such as the Sentix Investor Confidence, Retail PMI, and German Factory Orders m/m. The pair has been moving with bearish bias since the beginning of June. The support rests at 120.610 with resistance at 121.950 which both lines are below the monthly pivot point at 123.120. The EMA of 10 is moving below the EMA of 75 showing the recent price decline. The indicators are not showing any clear signal for traders; the RSI is in neutral zone, the MACD indicator is in negative territory and the Stochastic is showing price growth. Traders can wait for a better chart setup to decide on their trades.
EURJPY analysis for 06.06.2016
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