reports
- Steve Lucas
SPOT EURJPY - signals continue to point lower & to selling rallies
Despite Tuesday’s EURJPY buying from close to the 200 week average rate and a rally into the close, sellers returned to the market on Wednesday, sentiment posting a 2nd lower daily high in a row and a loss of ¾ Big Fig. Although this is negative, prices are once again testing the 200 week line and until this is broken the outlook for Thursday is only cautiously bearish and the call is to sell just modestly on the open and then at 128.44, Wednesday’s Marabuzo line with a stop loss at 129.22, yest...
- Steve Lucas
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 ...
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