EURJPY → Consolidation before further decline
EURJPY is forming a downtrend. The price is bouncing off the channel resistance and has approached strong support, the breakout of which may trigger further decline
Global EURJPY is in a neutral trend, but locally, due to economic nuances, the euro is weakening against the Japanese yen
There are two key zones on the chart - resistance at 159.112 against which a false breakdown can be formed before the price continues its decline. And support at 158.45 - support of the pre-breakdown consolidation and at the same time a strong level, the break of which will open the way to 156.29.
Resistance levels: 159.11, 160.16, 160.9
Support levels: 156.29
Technically, the situation is weak and hints that in the short term the bears could overcome the key support, which could trigger a bearish momentum
Regards R. Linda!
Global EURJPY is in a neutral trend, but locally, due to economic nuances, the euro is weakening against the Japanese yen
There are two key zones on the chart - resistance at 159.112 against which a false breakdown can be formed before the price continues its decline. And support at 158.45 - support of the pre-breakdown consolidation and at the same time a strong level, the break of which will open the way to 156.29.
Resistance levels: 159.11, 160.16, 160.9
Support levels: 156.29
Technically, the situation is weak and hints that in the short term the bears could overcome the key support, which could trigger a bearish momentum
Regards R. Linda!
Trade closed: target reached
+210 p
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🌹TRADING is a CASINO💔!?
NO‼️
You❗️CAN and ❗️SHOULD make money in trading!
Join me, I'll guide you to PROFITABLE TRADING💵!
🟢Free Telegram Channel:
t.me/RLindaTrade
🔴Contact:
t.me/RLindaSignals
NO‼️
You❗️CAN and ❗️SHOULD make money in trading!
Join me, I'll guide you to PROFITABLE TRADING💵!
🟢Free Telegram Channel:
t.me/RLindaTrade
🔴Contact:
t.me/RLindaSignals
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.