EUR/USD reversed from support zone Next buy target - 1…
EUR/JPY reversed from support zone
- EUR/JPY reversed from support zone
- Next buy target - 134.50
EUR/JPY recently reversed up from the support zone lying between the key support level 131.70 (which has been reversing the price from the end of September), lower daily Bollinger Band, support trendline of the daily up channel from June and the 38.2% Fibonacci correction of the previous sharp upward impulse from the middle of August. EUR/JPY is expected to rise further to the next buy target at the next resistance level 134.50.
We've got a bearish "High Wave", which has strong confirmation. In this case, the price is likely going to decline.
Growing concerns over Greek bailout, early elections in Italy and comments by the ECB President Mario Draghi about the need to maintain the bank’s extraordinary amount of monetary policy support…
The 144 Moving Average has acted as support, but there's a bearish "Engulfing' at the local high.