Sasha Singh
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EURJPY : Signaling a Downtrend Continuation

EURJPY : 4 Hour Chart

EURJPY seems like experiencing resistance from the 50 day SMA and we might see some deep losses in the pair. Also there seems a channel downtrend and the pair seems like experiencing resistance from the falling resistance trend line which is resisting the pair to move above it. It might also find support from the support trend line but the downtrend is signaling that the pair might break below the falling support trend line. All the simple moving averages are aligned towards the downward direction signaling a continuation of downtrend.

EURJPY : Daily ChartOn the daily chart we can lookout for the confirmation as 100 day SMA is contracting towards the 200 day SMA.If it does so, the pair will post some deep losses breaking the falling support trend line.