EURJPY is massively under the influence of world risk appetite. The pair started today with fluctuating in the bearish area however it tried to rise but the pullbacks took it back. The support rests at 117.180 with resistance at 118.140 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 RSI is below the 50 zone, the MACD indicator is in negative territory and the Stochastic is not showing any upward momentum. Short positions are recommended with the target at 115.50 however the resistance level breakout can push the price towards higher levels targeting 119.20.
EURJPY analysis for 22.06.2016
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