Today's Chart: EUR/JPY ( 4 HOURLY)
The primary trend of EUR/JPY is bearish, The pair is sustaining on the rising trendline & consolidating near the important level of 136.85 with a negative bias. For today if it breaks the level of 136.85 we can see it to the levels of 136.40/136.00 In its 4 hourly chart prices are taking resistance from 30 SMA,indicating the bearish sentiment about the pair, RSI is also sustaining in selling teritory, supporting the same.
In MACD, MACD line is sustaining below the zero line, supporting the downside movement for the pair for next few sessions .
STRATEGY :-
EUR/JPY is expected to show downside movement today. The pair is looking weak on charts for next few session. One can go for sell on higher level strategy for this pair for intra day to mid term positions.
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