Short

EURJPY → Support breakdown. Attempt to change the trend

Updated

seeks to renew lows. The dollar rally is negatively affecting both JPY and EUR. The Eurozone has yet to face Trump's policies, while Japan is already going through a rough patch....

The currency pair is exiting the ascending channel, hinting at a trend change. The price breaks support and consolidates in the selling zone. Ahead is the key support at 161.2, the breakdown of this zone may provoke the bears to more active actions.
Technically and fundamentally, the currency pair is entering the downward rally phase, so the trend change is just the beginning....

Resistance levels: 162.04, 162.5, 163.2
Support levels: 161.16, 158.4

The focus is on the channel boundaries, resistance at 162.04 and support at 161.16. From these zones an aggressive fall may be possible, as buyers do not believe in a positive outcome at the moment

Rate, share your opinion and questions, let's discuss what's going on with ★ ;)

Regards R. Linda!

Trade closed: target reached

158.4

RLinda

🌹TRADING is a CASINO💔!?

NO‼️

You❗️CAN and ❗️SHOULD make money in trading!

Join me, I'll guide you to PROFITABLE TRADING💵!

🟢Free Telegram Channel:
t.me/RLindaTrade

🔴Contact:
t.me/RLindaSignals

🧿Web: rlinda.com

Also on:

Related publications

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.