02.09.201407:24 Forex Analysis & Reviews: Intraday trading recommendations on EUR/JPY for September 02, 2014

Long-term review

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The pair has been taken minor support at 136.60 for 6 weeks on a closing basis. On the higher side, it has resistance at the 138.02 level. On an intraweek basis, 138.25 is the strong resistance. A week close above 138.25 leads to strong up move in the near term. In the Pacific session, the pair is trading at 137.30. We strongly recommend buying above 137.40 with an hourly target between 137.50 -137.57. In case a daily close is above 137.50, the intra week turns to positive at 137.66 and 138.02.

For an hourly perspective, the support levels existed between 137 and 136.90. Sell only below 136.85.

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