EUR/JPY In Support Zone – Forex Chart Alert
July 27, 2013 in Chart Alert
On one hand the strong fall of EUR/JPY to 130.08 suggests further consolidation bit on the other hand the price action is in a support zone. These support zone combined with the psychological support of 130.00 may prove to be strong and hence a cautious approach of waiting and watching is required till a break does not take place.
Instead of using words, let the charts talk about these support and resistance levels.
EUR/JPY and 200-period SMA on 4-hourly chart
EUR/JPY and short-term trend line support (daily chart)
EUR/JPY and 22-week EMA support (weekly chart)
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