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    EUR/JPY – Will the Pair Retrace to the Downside?

    The pair has been escalating since the 14th of April, 2015 with the buyers having placed astonishing upside pressures, giving no option whatsoever to the bears of at least re-tracing the price slightly lower.
    Looking at today’s chart, June 4, 2015, the pair has been making some strong attempts to retrace downwards without any success though. The major resistance zone for today’s session is 140.25
    In the scenario where the price decelerates, sellers could lock their profits either at 137.06 and 135.04 respectively. All stop losses can be placed at 141.15.

    Please note: The content in this daily technical analysis article should not be taken as investment advice. It comprises our personal view.

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