EUR/JPY levels of support, possible long

EUR/JPY: On a daily chart the trend is long, at 4H chart mid-term downward movement and a short-term long

Possible change of the medium term tendency: higher bottom and a higher peak, the sentiment may change to long

Correction of the upward movement to 23.6% Fibo

Two doji candles at levels of support and long lower shadows which indicates that sales are decreasing

Indicators show short-term negative sentiment

There is no signal for long but the current levels give us a good area for positioning with a relatively close stop loss at 115.95

The data from 11:00 are better than expected which can have a positive effect on EUR

It is very likely this week the trades on yen to slow down in anticipation of BoJ decision on Thursday for new data on stimulus and interest rates

Stefan D. Angelov – Head of Stocks Trading


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