The EUR/JPY market has entered a period of heightened volatility, with downward forces currently dominating. The market had been bearish with moderate volatility in previous sessions, but this volatility has intensified since the market tested the support near the 151.00 mark. Key Price Levels:Resistance Levels: 155.00, 160.00, and 165.00Support Levels: 150.00, 145.00, and 140.00 EUR/JPY…
Bulls are solidly behind the Japanese Yen, which has constituted a headwind in the EURJPY market. Market anticipations concerning the JPY are quite strong, as economic data are expected to come in better than previous reports. As a result, investors are rallying behind bearish bets in the EURJPY market. Key Price Levels:Resistance Levels: 165.00, 170.00,…
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The most recent rebound off the technical support at the 168.00 threshold seems to have placed the EURJPY market on a path toward the 171.00 threshold. Technical indicators are also positively aligned at the moment, suggesting the move could get stronger as trading continues. Key Price Levels:Resistance Levels: 170.00, 172.00, and 174.00Support Levels: 168.00, 166.00,…
EUR/JPY trades at 168.43, marking the second consecutive day of losses due to political uncertainty in France. Technical outlook: Consolidation below 170.00 with potential further losses if price drops below the 50-DMA at 167.47. Key support levels: Kumo bottom at 165.92 and 100-DMA at 164.78, indicating acceleration of the downtrend if breached. The Euro tumbled…
The daily RSI is pointing upwards, hovering around 70, but continuing red bars in the MACD show a trailing consolidation. On the hourly chart, indicators are neutral and reside in the positive terrain. The 20-day SMA at 169.00 serves as an important threshold for sellers. On Friday’s trading session, despite recent downside corrections, the EUR/JPY…
The EURJPY continues to march higher as the Japanese yen maintains a weaker stance. The market at this point seems to be gearing up to cross the all-time high reached many sessions ago at the 171.10 mark. Let’s examine the chances of this occurring. Key Price Levels:Resistance Levels: 172.00, 173.00, and 174.00Support Levels: 170.00, 169.00,…