AutoChartist Report Forex (Eur) 15.10.2018
The USDJPY pair has failed so far to break its downward trend line which suggests weakness in the price. The price is also trading below the 50 day (shown in green) and 100 day (shown in yellow) moving average. The USDJPY pair is trading within the ascending triangle, and historically speaking these triangles usually break towards the downside. If this pattern does break towards the downside, it could bring the price near the yellow rectangle on the chart. However, the RSI is giving slightly bullish signal in terms of deflection between the price and the RSI which means bias could be towards the upside.
Important Levels
Resistance
99.94-99.76 Major
99.47-99.27 Minor
Support
98.09-97.83 Minor
97.12-96.93 Major
96.06-95.78 Major
95.27-94.87 Major
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