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EUR/JPY intraday: the downside prevails as long as 166.61 is resistance
2024-05-02
786
Our pivot point is at 166.61.
Our preference: the downside prevails as long as 166.61 is resistance.
Alternative scenario: the upside breakout of 166.61, would call for 167.13 and 167.44.
Comment: the RSI is below 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 167.75 and 168.10).
Supports and resistances:
167.44 **
167.13 *
166.61 **
166.40
166.10 last
164.56
164.25 **
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