Technical analysis of EUR/JPY for May 28, 2014 2014-05-28 Technical outlook and chart setups: 1. The EUR/JPY pair is pulling back at the moment after printing 139.20/30 highs recently. Maximum downside is seen to be around 138.50/60 where a reaction could be expected and bulls could possibly resume. Recommendations are to remain long. risk remains below 138.00. 2. Support is seen at 138.00 (interim), followed by 136.00, 134.00 and lower, while resistance is seen at 141.00, 142.50/143.50, 144.00 and 145.50 respectively. 3. The structure indicates that EUR/JPY could resume rally towards 141.50/ 142.50 at least if not further. Trading recommendations: Remain long for now, add further around 138.50/60, stop at 138.00, target is open. Good luck! Technical analysis of USD/JPY for May 28, 2014 2014-05-28 !UJ280514.jpg In Asia, Japan will publish the BOJ Gov Kuroda Speech, and the US will not release any economic data for today. So there is a big probability the USD/JPY will move with low volatility during this day. TODAYs TECHNICAL LEVELS: Resistance. 3: 102.45. Resistance. 2: 102.25. Resistance. 1: 102.05. Support. 1: 101.80. Support. 2: 101.60. Support. 3: 101.40. DESCRIPTION: Please, pay attention to the levels of support 3 (101.40) and resistance 3 (102.45). Normally, when a level is touched, USD/JPY will rebound from the previous minimum by 10 to 20 pips, but if the levels are broken through by over 50 pips, then it will be a sign that these currencies have found trends today.
Posted on: Wed, 28 May 2014 09:55:10 +0000
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