EURJPY Bounces Off a Key Resistance

EURJPY Price Analysis – November 21 by FxPremiere.com Forex Trading Signals

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. USDCHF Price Breaks Up $0.91

EURJPY Market

Key Levels:

Supply levels: $124, $125, $126
Demand levels: $123, $121, $120

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. The market closed yesterday with a daily bearish candle indicates that EURJPY may decrease further. EURJPY Price Is Heading Towards $125

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EURJPY Bounces Off a Key Resistance Forex Signals EURUSD Price Hits Resistance

The currency pair has crossed the 9 periods EMA and 21 periods EMA downside and the former is trying to cross the latter; this is an indication that bears are dominating the EURJPY market. 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. EURJPY Price Break at $120 Supply Level

EURJPY medium-term Trend: Bearish

The EURJPY is bearish in the 4-hour chart. The price continues to trade within the descending channel formed. The price bounces off the resistance level of $124 and the price is declining towards the support level of $121.

EURJPY Bounces Off a Key Resistance Forex & Commodities Trading Levels to Watch on Friday

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EURJPY Bounces Off a Key Resistance EURJPY Price Tests a Potential

In the 4-hour chart above, more pressure received from the sellers is decreasing EURJPY towards the support level of $121 level. The price is trading below the two dynamic support levels and the relative strength index period 14 is bending down to indicate a further price reduction. EURJPY Price Bounces at the Demand Level of $117