EUR/JPY Technical Analysis: Bearish view unchanged. Next support lies at 114.85
- The selling pressure around EUR/JPY remains unabated and is now navigating fresh yearly lows in the 117.60/50 band.
- Looking at the broader picture, the negative stance on the cross is expected to remain unchanged while below the 121.35/40 band, where coincide the short-term resistance line and the 55-day SMA. Above this area the downside pressure should mitigate somewhat.
- If the selling impetus picks up extra pace, the next relevant support aligns at 2017 low at 114.85.
EUR/JPY daily chart
Reprinted from FXStreet，the copyright all reserved by the original author.
Disclaimer: The content above represents only the views of the author or guest. It does not represent any views or positions of FOLLOWME and does not mean that FOLLOWME agrees with its statement or description, nor does it constitute any investment advice. For all actions taken by visitors based on information provided by the FOLLOWME community, the community does not assume any form of liability unless otherwise expressly promised in writing.
FOLLOWME Trading Community Website: https://www.followme.com
If you like, reward to support.
Hot
No comment on record. Start new comment.