EURJPY analysis for 21.06.2016

EUR is publishing ZEW Economic Sentiment, German ZEW Economic Sentiment, and German Constitutional Court Ruling along with Japan which is releasing all Industries Activity index m/m and Monetary Policy Meeting Minutes. Looking at the long term movement of EURJPY, this pair is falling down the descendant channel. The support lies at 117.310 with resistance at 118.600 which both lines are below the monthly pivot point at 123.120. The EMA of 10 is moving below the EMA of 75. All indicators are showing upward movement of the trend. The RSI is in neutral area heading upward, the Stochastic is showing bullish momentum and the MACD indicator is crossing the negative area. Long positions are recommended with the target at 117.25.


https://fxglory.com/eurjpy-analysis-for-21-06-2016/