Current Price: 128.260
Fundamentals: Monetary policy will be back in focus next week as the European Central Bank and the Bank of England hold policy meetings. No surprises expected from ECB.
Weekly Chart: Bearish.
The pair is trading below EMA 50 and testing the SMA 200 support. Technical indicators showing the potential downside movement.
Daily Chart: Bearish.
The pair is below all main Moving Averages. Testing the median line of the Bollinger Bands.A daily closing in the lower Bollinger Bands will trigger the bearish move.
H4 Chart: Bearish
EURJPY ended the week below EMA 50, SMA 100 and SMA 200. According to RSI, the pair has potential downside rooms.
Hourly Chart: Bearish
Intraday Key Levels:
Upside: 128.510 128.900 129.290
Downside: 128.050 127.730 127.340
Chart Patterns: On the smaller chart timeframes, bearish triangle breakout. A wedge pattern formation on the H4 Chart. Break below the wedge would trigger the bearish move. On the bigger charts a potential Bullish Bat Pattern formation.
Our Comments: Shorter term, the bearish pressure will continue as long as EURJPY holds below 129.600. Bearish breakout of the wedge will trigger the downwards move targeting 127.340.
Trade Opportunities: We have one short and one long setup and will be published for the members
Fundamentals: Monetary policy will be back in focus next week as the European Central Bank and the Bank of England hold policy meetings. No surprises expected from ECB.
Weekly Chart: Bearish.
The pair is trading below EMA 50 and testing the SMA 200 support. Technical indicators showing the potential downside movement.
Daily Chart: Bearish.
The pair is below all main Moving Averages. Testing the median line of the Bollinger Bands.A daily closing in the lower Bollinger Bands will trigger the bearish move.
H4 Chart: Bearish
EURJPY ended the week below EMA 50, SMA 100 and SMA 200. According to RSI, the pair has potential downside rooms.
Hourly Chart: Bearish
Intraday Key Levels:
Upside: 128.510 128.900 129.290
Downside: 128.050 127.730 127.340
Chart Patterns: On the smaller chart timeframes, bearish triangle breakout. A wedge pattern formation on the H4 Chart. Break below the wedge would trigger the bearish move. On the bigger charts a potential Bullish Bat Pattern formation.
Our Comments: Shorter term, the bearish pressure will continue as long as EURJPY holds below 129.600. Bearish breakout of the wedge will trigger the downwards move targeting 127.340.
Trade Opportunities: We have one short and one long setup and will be published for the members
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Link to services and products: linktr.ee/chartreaderpro
