EUR/JPY

[Tiberiu]

EUR/JPY,Weekly View(16-20.01),4Hours Chart:

 

 

Price is moving in a downtrend and has found support at 97,54(Monthly S1).

 

 

- Bullish retracement could break 98,37(downtrendline confluence with Weekly Main Pivot) and reach 99,47(100SMA confluence with weekly R1), or even further to 100,55(200SMA) and 101,5(Monthly Pivot confluence with Weekly R2).

 

 

- Downside Risk without retracement would break 97,00Support and reach 96,44(Weekly S1) and 95,40(confluence between Monthly S2 and Weekly S2).

 

To Your Success,

 

Tiberiu