Forex Marketz Daily Forex News – Fully Markets Update
EUR/JPY (134.870)
- Resistance Levels: 135.68, 137.65, 139.95
- Support Levels: 133.80, 132.05, 129.18
- Trade Strategy: Short Sale at 135.26 Target 133.80
The euro has resumed falling against the Japanese yen. Please see the below daily MT 4 chart, the EUR/JPY is piercing the trend line support that originated since January.
Note near term support at 133.80, our first target. A daily close below this level will challenge 132.05. Should the Euro move higher, then we see resistance at 135.68. A break above this level challenges the resistance at 137.65, which is the high set on February 12.
Our short sale was activated at 135.26. I have an initial target of 133.80 with a stop loss in place at 136.67. Once I book half of my profit, I will move the stop loss to breakeven once the first target is reached.
