Morning Report

eurjpy24

A negative crossover on stochastic and a downside movement on ADX suggesting that the pair continues to form the Crab pattern, where the CD leg of this Crab is an AB=CD formation. The pair's stability below 114.90 is the reason to expect more downside movement for today.

Trading range for the day is among the major support at 111.60 and the major resistance at 116.90

The short term trend is to the downside as long as 132.50 holds, targeting 97.90

Previous Report

Weekly Report

Support114.25113.60112.80112.10111.60
Resistance114.90115.25115.75115.90116.30
RecommendationBased on the charts and explanations above our opinion is selling the pair around 114.90 targeting 112.10 and stop loss above 116.30 may be appropriate for today.