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EUR/JPY intraday: technical rebound towards 164.18 before a new drop

2024-03-28
809

164.18 is our pivot point.

Our preference: technical rebound towards 164.18 before a new drop.

Alternative scenario: above 164.18, look for 164.63 and 164.90.

Comment: the RSI is above its neutrality area at 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price stands above its 20 period moving average (163.70) but below its 50 period moving average (163.75).

Supports and resistances:

164.90 **

164.63 *

164.18 **

164.01

163.73 last

163.19

162.92 **

The above information is provided by special analysts and is for reference only. CM Trade does not guarantee the accuracy, timeliness and completeness of the information content, so you should not place too much reliance on the information provided. CM Trade is not a company that provides financial advice, and only provides services of the nature of execution of orders. Readers are advised to seek relevant investment advice on their own. Please see our full disclaimer.

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