The test of the 126.30 retracement is giving way to a short-term pullback, whilst overbought intraday studies unwind.
A break below congestion around 126.00 is highlighted, but rising daily stochastics and the improving Tension Indicator should prompt fresh
EURJPY buying interest around 125.50, before negative weekly charts extend losses still further.
A close beneath here will add further weight to sentiment and put focus on 125.00.
Meanwhile, a close above 126.30, if seen, will delay downside tests and open up 126.50/55.
A break below congestion around 126.00 is highlighted, but rising daily stochastics and the improving Tension Indicator should prompt fresh
EURJPY buying interest around 125.50, before negative weekly charts extend losses still further.A close beneath here will add further weight to sentiment and put focus on 125.00.
Meanwhile, a close above 126.30, if seen, will delay downside tests and open up 126.50/55.
We are an award winning independent research firm, covering Macroeconomics, Policy and Financial Markets. Our Technical Analysis coverage spans 40 FX pairs across developed and emerging markets. Register for a free trial at continuumeconomics.com
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.
We are an award winning independent research firm, covering Macroeconomics, Policy and Financial Markets. Our Technical Analysis coverage spans 40 FX pairs across developed and emerging markets. Register for a free trial at continuumeconomics.com
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.