EUR/JPY Technical Analysis: rolling over in favor of the bears
|- The EUR/JPY pair has found acceptance below the 50-hour, 100-hour, and 200-hour exponential moving averages (EMAs), having established lower highs and lower lows pattern on the hourly chart in the last seven days.
- The hourly relative strength index (RSI) has dipped below 50.00 in favor of the bears and is pointing south. Further, the 5-day and 10-day EMAs are beginning to roll over in favor of the bears.
Hourly Chart
Spot Rate: 131.60
Daily High: 132.00
Daily Low: 131.60
Trend: Bearish
R1: 131.90 (Sept. 24 low)
R2: 132.21 (trendline hurdle)
R3: 132.46 (resistance of Oct. 1 high on the hourly chart)
Support
S1: 131.18 (Sept. 28 low)
S2: 130.87 (Aug. 30 high)
S3: 130.00 (100-day MA)
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.