Early in the American session, the EUR/JPY pair is trading around 163.200, below the downtrend channel formed on may 13 and showing signs of exhaustion.
The euro could resume its bearish cycle in the coming hours. However, there is strong resistance around 163.836 and around 164.259. Both levels could act as a barrier to the euro. and after a technical rebound, it could resume its bearish cycle.
If the euro falls below 162.815, we could expect it to continue falling, with targets at the 200 EMA around 162.261, and it could even reach the bottom of the downtrend channel around 161.089.
The indicator is showing a negative signal, so any technical rebound will be seen as a signal to sell. The indicator also suggests that EUR/JPY could reach the psychological level of 158.280 in the short term.
The euro could resume its bearish cycle in the coming hours. However, there is strong resistance around 163.836 and around 164.259. Both levels could act as a barrier to the euro. and after a technical rebound, it could resume its bearish cycle.
If the euro falls below 162.815, we could expect it to continue falling, with targets at the 200 EMA around 162.261, and it could even reach the bottom of the downtrend channel around 161.089.
The indicator is showing a negative signal, so any technical rebound will be seen as a signal to sell. The indicator also suggests that EUR/JPY could reach the psychological level of 158.280 in the short term.
Trade active
We can see that the price is still respect our bearish cycle. Now let us wait to see what will come out
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DAILY FREE SIGNAL. FREE SIGNAL (95% accuracy) TP AND SL PROVIDED
In This Channel, i Will Provide you a profitable Scalping And Swing Trade Follow My Signals
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In This Channel, i Will Provide you a profitable Scalping And Swing Trade Follow My Signals
PUBLIC TELEGRAM CHANNEL
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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.