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EUR/JPY intraday: below its lower Bollinger band

2023-10-25
367

Our pivot point is at 158.85.

Our preference: the downside prevails as long as 158.85 is resistance.

Alternative scenario: the upside breakout of 158.85, would call for 159.32 and 159.60.

Comment: the RSI is below its neutrality area at 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 158.74 and 158.82). Finally, the EUR/JPY is trading below its lower Bollinger band (standing at 158.44).

Supports and resistances:

159.60 **

159.32 *

158.85 **

158.67

158.43 last

157.87

157.59 **

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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