EUR/JPY Outlook: Downside Vulnerable?
FinFX | Aug 16, 2013 03:58AM ET
The pair’s near 0-term price action showed no significant changes, compared to the previous session, as the price is entrenched within 129.41/130.71 consolidative range. Hourly studies are in neutral mode, while 4-hour indicators maintain positive tone and the potential for stretch through trendline resistance at 130.85, to possibly resume recovery rally from 127.96. low. However, failure to break above the bear-trendline, drawn off 132.72 peak, would keep the downside vulnerable, with break below range floor at 129.41, required to bring bears in play.
Res: 130.41; 130.71; 130.85; 131.00
Sup: 130.00; 129.70; 129.41; 129.30
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