FX.co ★ EUR/JPY

Technical analysis of EURJPY Today I will show you EUR/JPY technical analysis. The market is currently in a downtrend. Currently the market is between our resistance level at 163.04 and support level at 161.00. If the market breaks our support, it goes down, and if the market breaks our resistance, it goes up. The Previous history of the market, it is known that it has broken below the support level. After that, our next support level is 159.44. After reaching support, the market rose again, and now it will fall further if resistance is broken. The market is currently above the 50-day simple moving average. If the market tends to break below the resistance of the 50-day simple moving average, it will fall further.

The market is currently trading below resistance, with the 50-day simple moving average above it and 200-day simple moving average is below from the market. The RSI indicator is now between 30 and 70 which is at 48. Look at the chart, the market is currently close to support, and if it breaks, it will fall. The market broke through a resistance level that later became a support level. The market is at our support level, and now is the perfect time to enter. The market has broken the support level at this time, and the market will go further down. Our next target support level will be this 159.44. The indicator used in this chart : 50-day simple moving average color Navy: 200-day simple moving average color Chocolate: RSI indicator period 14: