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EUR/JPY intraday: our next up target stands at 159.50

2023-10-26
685

Our pivot point stands at 158.24.

Our preference: our next up target stands at 159.50.

Alternative scenario: the downside breakout of 158.24 would call for 157.77 and 157.49.

Comment: the RSI is above its neutrality area at 50. The MACD is above its signal line and negative. The MACD must break above its zero level to call for further upside. Moreover, the price is above its 20 and 50 period moving average (respectively at 158.60 and 158.64).

Supports and resistances:

160.06 **

159.78 *

159.50 **

159.22

158.66 last

158.42

158.24 **

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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