Medium-term trend: Bearish
Ichimoku analysis (4 Hour chart):
Tenkan-Sen level: 146.94
Kijun-Sen level: 146.80
Ichimoku cloud top: 147.62
Ichimoku cloud bottom: 145.83
EUR/JPY has made a high of 147.31 and is retreating from that level. Overall trend is weak as long as resistance 149.20 holds.
The pair’s major support is around 143.50 and any indicative break below will target 140.10/138. The minor support is around 145.50. Any bearish invalidation can happen only above 149.12.
Indicators
Ichimoku (9, 26, 52, 26) - Sell
MACD (12.26.9) – Neutral
Recommendation: Sell EUR/JPY around 147.20, SL 149.20, Target 138.
Ichimoku analysis (4 Hour chart):
Tenkan-Sen level: 146.94
Kijun-Sen level: 146.80
Ichimoku cloud top: 147.62
Ichimoku cloud bottom: 145.83
EUR/JPY has made a high of 147.31 and is retreating from that level. Overall trend is weak as long as resistance 149.20 holds.
The pair’s major support is around 143.50 and any indicative break below will target 140.10/138. The minor support is around 145.50. Any bearish invalidation can happen only above 149.12.
Indicators
Ichimoku (9, 26, 52, 26) - Sell
MACD (12.26.9) – Neutral
Recommendation: Sell EUR/JPY around 147.20, SL 149.20, Target 138.