Day trading strategies on the currency pair EURJPY  26-07-2016 by AzaForex forex broker, guidelines on how to make money in the foreign exchange market
Make more profit on foreign exchange by following this advice.
Euro could not resist of raising Japanese currency. After a long marking time Yen start rising sharply even in relation to strong currencies. It is now possible to see some recovery in the movements of currency pair on the Forex market. Trends after the correction began to move again, some currencies that are in hibernation state came out of hibernation and began to change its quotation. Apparently, such movements in the currency market are due to the end of the month, handing over the world reporting and summarizing. All market mechanisms began to move, because of exert indirect pressure state apparatus in various countries. At the same time the Euro Yen currency pair, which we can see on the graph can clearly identify a second wave of the downtrend. Such overhang over the price level of support is unlikely to dramatically turn around and soar skyward. For decent earnings in this trade we have all the components -  the foreign exchange market is active and the Japanese currency is strengthening, and there is a large enough range in price, so to the nearest support is more than 200 points to reach.
The price is below a simple moving average 200 MA and 20 MA indicating bearish trend.
The MACD trend indicator is below zero level now, indicating bearish movement.
If the support level is broken you can use the following recommendation:
•             Chart timeframe: H4
•             The trade recommendation: Sell
•             The level of entry into short position 114.40
•             The level of profit and close the position: 112.40 (200 pips)
Forex currency pair USDJPY
Possible bearish movement in the breakdown of the support level 104.00
Forex currency pair EURUSD
Possible bearish movement in the breakdown of the support level 1.0950
Forex currency pair GBPUSD
Possible bearish movement in the breakdown of the support level 1.3060
Forex currency pair USDCHF
Possible bullish movement in the breakout of the resistance level 0.9910