FX.co ★ Technical analysis of EUR/JPY for January 21, 2015

General overview for 21/01/2015 09:30 CET

Despite the yesterday's breakout above the level of 137.02 and entering the neutral zone, the market was unable to hold the gains and currently is testing the golden trend line from the upside. It is still possible that another leg upward will be made above the intraday resistance at the level of 137.64. So far the price sits at the golden trend line support and waits for the data.

Support/Resistance:

134.72 - Intraday Support

136.80 - Weekly Pivot

137.64 - Intraday Resistance

138.90 - WR1

Trading recommendations:

As it was advised all week long, buying on the dips on this market is the way to trade it with the SL orders placed just below the level of 134.12.