Midday Report

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The upper line of the descending channel forced the EUR/JPY pair to achieve bearish actions during the previous session. Thereby, we keep our harmonic overview unchanged for the rest of the day. We recommend reviewing the morning report for additional explanations.

The trading range for today is among key support at 111.05 and key resistance now at 115.45.

The general trend over short term basis is to the downside, targeting 97.90 as far as areas of 132.50 remain intact.

Weekly Report

Morning Report

Support112.80112.10111.50111.05110.90
Resistance113.60114.00114.25114.75115.45
RecommendationBased on the charts and explanations above our opinion is, selling with a breakout below 113.00 targeting 111.20 and stop loss above 114.30 might be appropriate.