By: Doug Rosen
The EUR/JPY continues to ride the 5 ema down on the daily timeframe. Lower Bollinger band is open and pointing down.
On the 4 hour timeframe price i also riding down along the ema's.
Moving on tot he hourly timeframe price has just come off from making a fib overlapped with the 55 ema and the upper Bollinger band is heading down.
Finally, on the 15 minute timeframe price is below the daily central pivot point and is below the ema's and heading down.
This pair is closely correlated with the stock market and since yesterday was a Bank Holiday I will be watching this pair very closely today when the Stock Market opens.