EURJPY Bounces Off a Key Resistance by FxPremiere.com Live Forex Signals by Daily Trading Alerts and Live News.
EURJPY Price Analysis – November 21
The increase in the bearish momentum will decrease the price further to the support level of $123. The breakdown of the $123 level will expose the price to the $121 and $120 support level. In case the bearish momentum fails to break down the $123 level, then, the price will bounce and face the resistance levels of $124, $121, and $120.
Supply levels: $124, $125, $126
Demand levels: $123, $121, $120
FxPremiere EURJPY Long-term Trend: Bearish
EURJPY remains under the control of the bears; the price hits the resistance level of $124 last two weeks. The currency pair could not penetrate the mentioned level. The bearish candles emerge and the price is descending towards the support level of $121. The momentum of the bears is increasing and the price is decreasing accordingly. EURJPY Price Is Heading Towards $125
The market closed yesterday with a daily bearish candle indicates that EURJPY may decrease further.
Notice on EURJPY Bounces Off a Key Resistance
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