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Technical analysis of EUR/JPY for August 05, 2015

The cross pair lost all the moving averages on the daily chart except for 100Dsma that is at 134.25. The 20Wsma is found at 134.50. The cross has been making head and shoulder formation, neck line is at 133.09. The trend changes, level is at 133.00 - stop loss might be placed there.

Intraday support is found at 135.00 and 134.80. Today, at the Asian session, the cross made low at the 135.02 levels. Resistance seems to be at 135.55, 135.80, and 136.15.

On the H1 chart, the cross pair fell below the base triangle aiming at 134.80, 134.50 and 134.35 initially. The selling is likely to accelerate below 134.80.

Intraday key support level is at 134.80

Weekly key support level is at 134.50

The hourly momentum oscillators indicates oversold condition, it might bounce from the support levels.

EURJPYDaily.png

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