08.08.201407:41 Forex Analysis & Reviews: Technical analysis of EUR/JPY for August 08, 2014

Long-term review

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The pair hit the parallel support at 136.21 in early Asia's session. Currently the pair is trading at 136.02. The pair was rejected at 20DSma. For an hourly trading view, the pair has support at 135.70 (138 fib level) below this, 135.35 will come. In the H4 chart, the RSI is indicating an oversold zone. On the north side, it has resistance at 136.16-136.20, 136.31 and 136.45 levels. Until the prices close below 137.30, bears will have an upper hand. If today, the pair closes below 136.20, next week easily we can see 134 levels.

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