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EURJPY Remains Vulnerable With Eyes On Further Weakness


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EURJPY Remains Vulnerable With Eyes On Further Weakness

EURJPY remains vulnerable with eyes on further weakness. On the downside, support comes in at the 117.50 level where a break if it occurs aiming at the 117.00 level. A break through here will turn focus to the 116.50 level and possibly lower towards the 116.00 level. Its daily RSI bearish and pointing lower suggesting further weakness. On the upside, resistance resides at the 118.50 level. Further out, we envisage a possible move towards the 119.00 level. Further out, resistance resides at the 119.50 level with a turn above here aiming at the 120.00 level. On the whole, EURJPY retains its downside pressure in the medium term.
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About the author


Mohammed Isah is a Technical Strategist and head of research at FXTechstrategy.com, a technical research website. He has been trading and analyzing the foreign exchange market for the past 7 years.

He formerly traded stocks before crossing over to the forex market where he worked for FXInstructor LLC as a technical analyst and head of research before Joining FXTechstrategy.com. Mohammed has written extensively on the forex market and technical analysis and his articles have been featured in The Technical Analyst Magazine, The Forex Journal MagazineThestreet.com, MoneyShow, The Technical analysis of Stocks & Commodities Magazine, Businessinsider and FXstreet.com

At FXTechstrategy.com he writes daily and weekly technical commentaries on currencies and commodities which are offered to its clients. He provides full coverage of the forex market with specific daily focus on 7 currencies (EURUSD, GBPUSD, USDJPY, EURGBP, EURJPY, AUDUSD and USDCAD) and the Dollar Index utilizing various technical tools and strategies. He also covers the commodities market twice in a week focusing on in-depth technical developments in GOLD, CRUDE OIL, SILVER, CORN, WHEAT and CRB Index.

Mohammed can be reached via email at m.isah@fxtechstrategy.com.

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