SPOT EURJPY - technical analysis signals have switched on Tuesday
Buying from ahead of the 50 day average rate and a developing trend of higher daily lows has kept this week’s signals for EURJPY pointing higher. However, initial gains on Monday of almost ½ Big Fig have attracted sellers ahead of September’s 21 month top at 134.43 for sentiment to deteriorate to post a loss of almost ¾ Big Fig. A bearish Engulfing candle has been formed and with signals negative the outlook for Tuesday is to sell on the open and then at 133.77, this week’s opening trade with a stop loss at 134.13, yesterday’s high. Targets are to 133.10, yesterday’s low, 132.47, Thursday’s base and 131.66, October’s low trade.
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