Fxwirepro: Cloud blocks the way up to Eur / jpy, recommended up to shortstop rally

• EUR / JPY rose above session lows near 120.85, returning the 50-DMA at 121 level.
• Full Cloud acts as a powerful resistance, blocking upward movement, intra retains bearish trend.
• RSI with the price dynamics go in one direction. Change of short-term bearish trend is possible only when you close the day above the clouds.
• Stochastic remains bearish mood after the turn from overbought and MACD is about to make a bearish crossover
• Couple on the way to the 100-DMA testing near 120.45. Breakthroughs within this zone may lead to a further reduction up to 120 level.

Support Levels - 121 (50-DMA), 120.56 (50% fib correction and rally from 118.23 to 122.88), 120.45 (100-DMA)

Resistance Levels - 121.40 (cloud tops), 121.53 (5-DMA), 122, 122.42 (maximum 13 January)

PERIOD INDEX TREND OB / OS INDEX

1H bovine neutral
4H neutral neutral
1D bearish neutral
1W neutral neutral

It is recommended to get up a short position on a rally in the area of ​​121.35 / 40, with a stop-loss level of 122 and take-profit 121 / 120.60 / 120.45 / 120

FxWirePro forecasts the index force rates: At 6:50 GMT, the index of forces on the hourly chart EUR stood at 0.312492 (neutral), while the hour indicator is located on the JPY 9.37847 (neutral). For more information about currency strength indicator FxWirePro can be found by visiting http://www.fxwirepro.com/currencyindex