Date: 24th December, 2013
Currency Pair: EURJPY
At this moment price of EURJPY reversed from 1st resistance level which can be found at 142.81. If same downward movement persists for another few hours then it’ll reach 1st support level i.e. 142.22 followed by 141.87 and then 141.63.
Bull trend is only possible if it crosses 1st resistance level i.e. 142.81. The next resistance could be found at 143.05 followed by 143.40.
After looking at 4 hours chart it seems that 1st resistance is very strong. I expect that from this level selling pressure may bring the price back to lower level.
Daily Support And Resistance Levels