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Weekly forecast Euro / Japanese Yen technical chart
Symbol EURJPY

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Trading suggestion:

  • By appearing primary signs of entering the market, new entry zone and short-term targets would be published.

DateApril 18, 2020 - 21:32
Currentrange bound
Forecastbeginning of uptrend

Midterm forecast:

  • While the price is above the support 115.850, beginning of uptrend is expected.
  • We make sure when the resistance at 122.850 breaks.
  • If the support at 115.850 is broken, the short-term forecast -beginning of uptrend- will be invalid.

Technical analysis:

  • While the RSI downtrend #1 is not broken, bearish wave in price would continue.
  • A peak is formed in daily chart at 119.00 on 04/07/2020, so more losses minimum to Major Support (115.85) is expected.
  • Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
  • Relative strength index (RSI) is 40.

Supports and Resistances:

  1. 133.10
  2. 129.10
  3. 126.65
  4. 125.10
  5. 119.25
  6. 111.25
Click on the level to view price action history.

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