Today's Chart: :EUR/JPY ( HOURLY )
The primary trend of EUR/JPY is bullish on charts and price is trading below the trend line in its hourly chart. In hourly chart the price is sustaining above 200 day SMA and taking resistance of 50 day SMA indicating downtrend of the pair. It is having an important resistance at the level of 131.65 and support at the level of 130.02. If it breaks its support level on the downside and sustains below it then we can expect it to show further bearish movement in the pair.
INDICATORS
MACD is sustaining in its negative territory indicating the bearish trend in the pair.
RSI is sustaining in its selling zone indicating the upcoming bearish trend in the pair.
STRATEGY
EUR/JPY is looking bearish on charts for next few trading session. One can go for sell on higher level strategy for this pair for intra-day to mid-term positions in it.
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