FxGrow Daily Technical Analysis – 01st Sept, 2015
By FxGrow Research & Analysis Team
EURJPY - 4 months in consolidation
After a dynamic movement from December 2014 to April 2015 in May EURJPY started move In consolidation. Main support is 133.00 and resistance 141.00. On historical chart we may see that the move without volatility like now has ended with dynamic movement. However as long as one of the sides do not obtain advantage bulls will be closing long positions on the indicated resistance and bears will be closing short positions on indicated support and consolidation will continue.
At the interval H1 there is even greater stagnation, which runs from 26 August. Price moves in the triangle between the levels of 135.25 and 136.50.
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