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Wednesday, March 30, 2016

1-Day Chart Outlook EUR/JPY

Eur/jpy daily is set to test the resistance zone at point B (129.00/129.50) as suggested by my MA1 (ema-6) slightly crossing over MA2 (sma-60) plus price indicating a break above resistance line 127.00 now possible support. A break above point B will extend target towards point C (132.00). One more candle close above 127.00 will signal a clear confirmation of possible rally towards 129.50

Recommended stop loss level: Points below 125.00

Recommended buy level 1: At current price = ema-6 (provided ema-6 > sma-60

Recommended buy level 2: At current price = sma-60 (127.00)

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