EUR/JPY Looking Bullish On Charts!

SUMMARY:

The major trend of EUR/JPY is bearish but from past 2-3 weeks prices are not sustaining at lower levels & consolidating near the important level of 135.50. Prices has given the breakout of falling trendline & sustaining above the breakout level successful y. Prices are taking support of 30 SMA & can come up to test 200 SMA. Today if the pair breaks the psychological level of 135.35 at upside then we can expect it to test the level of 136.15.

RSI is sustaining in buying territory supporting the upcoming bullish trend in the pair. MACD line has recently break the zero line,indicating the up trend in the market.

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EUR/JPY ( 4 HOURLY )

PIVOT POINTS:

	S3	S2	S1	PIVOT	R1	R2	R3
EUR/USD	1.1270	1.1283	1.1299	1.1312	1.1328	1.1341	1.1357
GBP/USD	1.5193	1.5207	1.5223	1.5237	1.5253	1.5267	1.5283
USD/JPY	118.67	118.78	118.88	118.99	119.08	119.19	119.29
USD/CHF	0.9230	0.9239	0.9252	0.9261	0.9274	0.9283	0.9296
AUD/USD	0.7716	0.7738	0.7750	0.7772	0.7784	0.7806	0.7818
EUR/GBP	0.7408	0.7413	0.7418	0.7423	0.7428	0.7433	0.7438
USD/CAD	1.2479	1.2496	1.2507	1.2524	1.2535	1.2552	1.2563
NZD/USD	0.7323	0.7333	0.7342	0.7352	0.7361	0.7371	0.7380

STRATEGY : 

EUR/JPY is looking bullish on charts. One can go for buy on dips strategy for this pair for intra day to mid term positions.