EURJPY INTRADAY bearish below 158.50
The EURJPY price action sentiment appears bearish, supported by the longer-term prevailing downtrend.
The key trading level is at 158.50, the 03rd February swing low level and falling resistance trendline zone. An oversold rally from the current levels and a bearish rejection from the 158.50 level could target the downside support at 155.73 followed by 154.74 and 153.25 levels over the longer timeframe.
Alternatively, a confirmed breakout above 158.50 resistance and a daily close above that level would negate the bearish outlook opening the way for further rallies higher and a retest of 161.28 resistance followed by 162.74 levels.
This communication is for informational purposes only and should not be viewed as any form of recommendation as to a particular course of action or as investment advice. It is not intended as an offer or solicitation for the purchase or sale of any financial instrument or as an official confirmation of any transaction. Opinions, estimates and assumptions expressed herein are made as of the date of this communication and are subject to change without notice. This communication has been prepared based upon information, including market prices, data and other information, believed to be reliable; however, Trade Nation does not warrant its completeness or accuracy. All market prices and market data contained in or attached to this communication are indicative and subject to change without notice.
The key trading level is at 158.50, the 03rd February swing low level and falling resistance trendline zone. An oversold rally from the current levels and a bearish rejection from the 158.50 level could target the downside support at 155.73 followed by 154.74 and 153.25 levels over the longer timeframe.
Alternatively, a confirmed breakout above 158.50 resistance and a daily close above that level would negate the bearish outlook opening the way for further rallies higher and a retest of 161.28 resistance followed by 162.74 levels.
This communication is for informational purposes only and should not be viewed as any form of recommendation as to a particular course of action or as investment advice. It is not intended as an offer or solicitation for the purchase or sale of any financial instrument or as an official confirmation of any transaction. Opinions, estimates and assumptions expressed herein are made as of the date of this communication and are subject to change without notice. This communication has been prepared based upon information, including market prices, data and other information, believed to be reliable; however, Trade Nation does not warrant its completeness or accuracy. All market prices and market data contained in or attached to this communication are indicative and subject to change without notice.
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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.
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.