For the past several weeks, bulls have been in control of the price change on EUEJPY price chart, and they were able to pump the price within a significant ascending wave. The bullish trend line on the price chart of this pair has recently been broken and the price line is now located below this line, completing a retest. Some bearish signals have been issued and sellers can expect a good trading situation to come up shortly. The red ascending line on the chart reflects the broke trend line; traders should keep a sharp eye on the chart to detect a possible retests of this trend line and on about 147.8, they can enter short positions, heading to the support levels below the current position of the price line.
• There is a resistance level at 147.800 followed by resistance at 148.500 and 150.000.
• There is a support level at 144.222. Below, there is 143.740 and 142.955.
Note: We do not suggest any investment advice, and these analyses are just to increase the traders’ awareness but not a certain instruction for trading.
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