EUR/JPY: possible new drop

EUR / JPY: the downward trend continues, there is a lower top.

The price went below the diagonal support, now resistance, which enhances the possibility of a renewed fall.

The price of dynamic resistance 25 period average, suitable for sell.

Price below moving averages, arranged in bearish formation.

CCI (50) is below 0 – negative mood.

Current bar goes below 50% of the previous bull bar – a negative signal about levels of resistance, possible Dark-Cloud Cover formation.

Sentiment: foundation under the euro remains weaker than the JPY.

Stefan D. Angelov – Head of Stocks Trading

 Varchev Traders

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