EUR/JPY Confirmation of trend reversal

26 Nov

Hi guys, today we are starting up with the currency pair of EUR / JPY , which had a significant drop today, with a follow up with a few bad economical data shown by the biggest economy in Europe : Germany, additionally the additional tensions generated from Israel earlier , ended up pushing the value of the yen up, hence the fact that it is still one of the looked after safe heaven currencies. Currently the EUR/JPY has reached a break of structure which it should revitalise and cover in the upcoming days.Additionally we see the lower levels of the Fibonacci and a total level of the RSI sitting currently at the level of 35 making it quite oversold.

Entry level at 160.500 with the following targets :

Target one : 161.053
Target two :161.767

Will update additionally when the targets have been achieved!