EUR/JPY Near Key Support: Bounce or Break Ahead?
EURJPY is at a critical juncture, with 157.00 acting as a make-or-break zone. Monitor for a bounce or a decisive breakdown to gauge the next significant move. The pair has been in a clear downtrend, reflected by consistent lower highs and lower lows on the chart.
Price is currently trading near a potential support zone around 157.00, which aligns with previous bounce levels. The RSI is nearing oversold territory, indicating a possible short-term bounce. Enter long positions on confirmation of a bounce near 157.00, Short positions can be taken on a break below 157.00, targeting 156.00 and beyond.
Price is currently trading near a potential support zone around 157.00, which aligns with previous bounce levels. The RSI is nearing oversold territory, indicating a possible short-term bounce. Enter long positions on confirmation of a bounce near 157.00, Short positions can be taken on a break below 157.00, targeting 156.00 and beyond.
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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.