{"id":10555,"date":"2010-06-25T08:20:49","date_gmt":"2010-06-25T12:20:49","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=10555"},"modified":"2010-06-25T08:20:49","modified_gmt":"2010-06-25T12:20:49","slug":"eurjpy-reaching-towards-a-significant-support-level","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/06\/25\/eurjpy-reaching-towards-a-significant-support-level\/","title":{"rendered":"EUR\/JPY Reaching Towards a Significant Support Level"},"content":{"rendered":"<p><strong>By Yan Petters<\/strong> &#8211; The EUR\/JPY fell about 1,800 pips in merely two months since April;  however the bearish momentum seems slowing. For the past month, the pair  has been trading within a restricted range, and now the price is  approaching its lower boarder. Will the EUR\/JPY break the range?<\/p>\n<p>\u2022 The chart below is the EUR\/JPY 1-day chart.<br \/>\n\u2022 The technical indicators used are the Bollinger Bands, the Slow  Stochastic, the MACD and the Relative Strength Index (RSI).<br \/>\n\u2022 The pair has been trading within a restricted range recently, between  the 108.00 and the 113.50 levels.<br \/>\n\u2022 At the moment, the RSI has failed to enter the \u2018Over-Bought\u2019 zone, and  is pointing down. This indicates that the bearish move has potential to  proceed.<br \/>\n\u2022 The MACD seems about to complete a bearish cross. If the cross will be  completed, this will further verify that the bearish pressure is  getting stronger.<br \/>\n\u2022 The next significant support level is located at the lower boarder of  the range, at the 108.00 level. If the pair will breach this level, it  has potential to drop towards the 106.50 level.<br \/>\n\u2022 However, if the pair will fail to cross the support level, it might  bounce back up, towards the upper boarder of the range, and might reach  as high as the 113.50 level<\/p>\n<p><a href=\"http:\/\/www.forexyard.com\/blog\/en\/wp-content\/uploads\/2010\/06\/EURJPY.bmp\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone\" src=\"http:\/\/www.forexyard.com\/blog\/en\/wp-content\/uploads\/2010\/06\/EURJPY.bmp\" alt=\"\" width=\"595\" height=\"545\" \/><\/a><\/p>\n<p><strong><em>Forex Market Analysis<\/em> provided by <a href=\"http:\/\/www.forexyard.com\/?zone_id=1398\" target=\"_blank\">Forex                 Yard.<\/a><\/strong><\/p>\n<p>\u00a9 2006 by FxYard Ltd<\/p>\n<p>Disclaimer: Trading Foreign Exchange carries a high level of risk and                 may not be suitable for all investors. There is a      possibility      that     you   could sustain a loss of all of your      investment and      therefore  you     should  not invest money that you      cannot afford to      lose. You  should  be    aware of  all the    risks   associated with   Foreign    Exchange  trading.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Yan Petters &#8211; The EUR\/JPY fell about 1,800 pips in merely two months since April; however the bearish momentum seems slowing. For the past month, the pair has been trading within a restricted range, and now the price is approaching its lower boarder. Will the EUR\/JPY break the range? \u2022 The chart below is &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.investmacro.com\/fx\/2010\/06\/25\/eurjpy-reaching-towards-a-significant-support-level\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;EUR\/JPY Reaching Towards a Significant Support Level&#8221;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-10555","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/10555","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/comments?post=10555"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/10555\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=10555"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=10555"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=10555"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}