EURJPY very bearish after triangle's breakout

Share On Facebook
share on Linkedin

EURJPY managed to perform a very well pullback from the 200 SMA, which served as dynamic resistance at the H1 chart and currently, we’re expecting more declines.

The technical analysis is very clear about the current bearish path which is following the EURJPY in a short and mid-term basis, as the pair was trapped inside a bearish triangle below the key resistance level of 129.00.

Now we should see a more downside following towards the 125.95 level, where we can see a rebound that corrects the current decline held from yesterday’s highs.

MACD indicator is still moving on the negative territory.

CLICK HERE TO REGISTER FOR FREE ON ADVFN, the world's leading stocks and shares information website, provides the private investor with all the latest high-tech trading tools and includes live price data streaming, stock quotes and the option to access 'Level 2' data on all of the world's key exchanges (LSE, NYSE, NASDAQ, Euronext etc).

This area of the ADVFN.com site is for independent financial commentary. These blogs are provided by independent authors via a common carrier platform and do not represent the opinions of ADVFN Plc. ADVFN Plc does not monitor, approve, endorse or exert editorial control over these articles and does not therefore accept responsibility for or make any warranties in connection with or recommend that you or any third party rely on such information. The information available at ADVFN.com is for your general information and use and is not intended to address your particular requirements. In particular, the information does not constitute any form of advice or recommendation by ADVFN.COM and is not intended to be relied upon by users in making (or refraining from making) any investment decisions. Authors may or may not have positions in stocks that they are discussing but it should be considered very likely that their opinions are aligned with their trading and that they hold positions in companies, forex, commodities and other instruments they discuss.

Leave A Reply

 
Do you want to write for our Newspaper? Get in touch: newspaper@advfn.com

By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions

P: V: D:20200924 01:46:40