EUR/JPY Daily forex post August 15, 2014

EUR/JPY Technical view

Updated:  August 15, 2014 3:15:23 GMT
SPOT EUR/JPY Previous day OHLC
Open High Low Close Change
136.87 137.24 136.72 136.91 0.05
Today's Support and Resistance
Resistance
Support
R3 138.10
R2 137.40
R1 137.10
S1 136.80
S2 136.40
S3 135.40

EURO settled unchanged versus the yen, breaching both near term supports and resistances, before settling within the range. The near term view continues to remain bearish with the pair likely to test 136.20- 136.40 again in the day's session. However, breach of 137.50 and the gains should extend past 138.00 yen very quickly

Trend direction

  • Short term: Bearish
  • Medium term: Bullish
  • Long term: Bullish

Trading Recommendations

  • Short:

    • Hold on to short EURO positions initiated at 137.10 with stops at 137.35 for targets of 136.40
  • Long:

    • N/A