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    Technical analysis of EUR/JPY for November 24, 2015


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    Technical outlook and chart setups:

    The EUR/JPY pair seems to be testing lows around 130.30/40 at the moment. Please note that the pair has produced a doji candlestick pattern on the daily charts. A test and reversal could indicate that a potential pullback rally is setting up. While a drop lower could expose the level of 129.00 (the fibonacci 0.786) as support and delay matters further for a pullback. It is recommended to remain flat at the moment and seek further evidence before committing a trade. Immediate support is at 130.30 followed by 129,00 and lower, while resistance is seen at 132.26/30 and higher.

    Trading recommendations:

    Remain flat now.

    Good luck!


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