FX.co ★ Technical analysis of EUR/JPY for July 17, 2014

EUR/JPY

The pair drifts to a five-month low trading at 137.37 levels.

In the weekly chart, the pair has hit the 50 WSma and trading below that.

In the daily chart, the pair is trading below the daily, weekly, and medium-term moving averages.

On the down side, the pair's support is at 137 and 136.20 levels. If the euro hits the 136.20 level, gates will be open for a steep fall to 135.50, 132.40, and 131.20 levels. The weekly RSI is traveling to the South.

For the hourly trading purpose, the pair is trading below the hourly moving averages. The pair has resistance at 137.70, 137.95 and 138.05 levels. The hourly momentum oscillators are indicating oversold signs. Until the pair trades above 139.25, we can expect 136.87 on the down side.