EURJPY Price Prediction back
EURJPY Price Analysis – April 23 by FxPremiere.com
Should the bears increase their pressure, the support level of $129.1 may be penetrated and the bearish momentum may extend to $128.2 and $127.3 price level. Should the Bulls defend the support level of $129.1, the resistance level of $129.8, $130.7, and $131.2 may be tested by the bulls.
Resistance levels: $129.8, $130.7, $131.2
Support levels: $129.1, $128.2, $127.3
The fast moving average (9 day EMA) is trying to cross the slow moving average (21 day EMA) downside while the price is trading below the two EMAs which indicate that bearish movement has commences. Should the bears increase their pressure, the support level of $129.1 may be penetrated and the bearish momentum may extend to $128.2 and $127.3 price level. Should the Bulls defend the support level of $129.1, the resistance level of $129.8, $130.7, and $131.2 may be tested by the bulls. The relative strength index period 14 is bending up at 50 to indicate buy signal which may be a pullback.
EURJPY medium-term Trend: Bearish
On the 4-hour chart, EURJPY is bearish. EURJPY initially broke out of the consolidation towards the north on April 20. The bears rejected the breakout and push down the price below the support level at $129.8. Further price decrease envisaged provided the support level of $129.1 does not hold.
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EURJPY Long-term Trend: Bearish
On the long-term outlook, EURJPY is bearish. EURJPY broke out of the consolidation zone and currently facing the support level at $129.1.
EURJPY Price Prediction back