Sasha Singh
0
All posts from Sasha Singh
Sasha Singh in Sasha Singh,

EURJPY : Following Channel Uptrend !!

(EURJPY : 4 Hour Chart)

Seems like now it is time again to look at the technical view of the chart as ECB have already taken action regarding low inflation in the euro zone economy. EUR however rose after the ECB decision but it seems short term and it will be back to its previous levels. On the 4 hour chart, EURJPY is trading within a rising channel. 50 day SMA just crossed the 100 day SMA to move above signaling a short term rise again so the pair might find support from the 50 day SMA and rise. But the rise would be limited to the resistance trend line of the upward sloping channel. For confirmation I would like to see the pair breaking below the support trend line or the breakout above the resistance trend line of the channel.