Technical analysis of NZD/CHF
EUR/JPY reversed from resistance zone
- EUR/JPY reversed from resistance zone
- Next sell target - 132.00
EUR/JPY today reversed down from the resistance zone lying between the key resistance level 133.30 (former strong support from January), upper daily Bollinger Band, 100-day moving average and the 50% Fibonacci correction of the downward price retracement from the start of February. EUR/JPY is expected to fall toward the next sell target at the next support level 132.00 (low of the previous minor correction 2).
If we see a pullback from the lower 'Window', the pair is likely going to test the nearest Moving Averages...
Bearish Ichimoku Cloud with falling Senkou Span A and rising Senkou Span B; a dead cross of Tenkan-sen and Kijun-sen with falling lines.
The picture on W1 looks very much like the “Head and Shoulders” with the neckline at 3.68 or 3.56.