EUR/JPY's 4 Hour MACD

Technical Reports

There was a break of 130.26 for 130.33. Yet, the cross lacks upside impulse from the 4 hour MACD. Trading character is neutral. Strong breach of 130.26 will expand the recoil from 124.61 and align 133.47 key short term resistance. Following pivot points include: (S1) 129.70; (P) 130.02; (R1) 130.46.

Breach of 127.78 minor support will suggest that the recoil from 124.61 has finished. In that case, trading will turn up on the downside to 124.61.

A bearish divergence in daily MACD keeps persisting. Sustained breach of 124.08 will suggest reversal. The intact increase from 109.03 has finished at 137.49. Larger decline should align 61.8% retracement of 109.03 to 137.49 at 119.90 and lower. Choppy breach of 133.47 key resistance will resume the lift from 109.03 through the maximum of 137.49.