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28 May 2019
EUR/JPY: Stochastics lean bearish, eyes on 121.53 61.8%
- The outlook is bearish as daily stochastics recovery to give more room to the downside, 1HR and 4HR also lean bearish.
- EUR/JPY bears ran out of steam down at 122.08 which guards the 121.53 61.8% Fibonacci retracement level.
- 119.91 78.6% Fibonacci retracement comes in as next downside target.
- Bulls need to clear 123.24/75, at the downtrend line and the May 21 high ahead of the 55 day ma at 124.68.
