FX.co ★ EUR/JPY analysis for January 31, 2018

Recently, the EUR/JPY pair has been trading sideways at the price of 135.60. Anyway, according to the 30M time – frame, I found a bullish breakout of the 2-day balance, which is a sign that buyers are in control. I also found a rising upward trendline and hidden bullish divergence on the moving average oscillator, which is another sign of strength. My advice is to watch for potential buying opportunities. The projected upwarrd target is set at the price of 136.50.

Resistance levels:

R1: 135.36

R2: 135.82

R3: 136.44

Support levels:

S1: 134.28

S2: 133.67

S3: 133.20

Trading recommendations for today: watch for potential buying opportunities.