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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.

DateDecember 19, 2020 - 20:42
Currentrange bound
Forecastbeginning of downtrend

Midterm forecast:

  • While the price is below the resistance 127.050, beginning of downtrend is expected.
  • We make sure when the support at 121.150 breaks.
  • If the resistance at 127.050 is broken, the short-term forecast -beginning of downtrend- will be invalid.

Technical analysis:

  • A trough is formed in daily chart at 122.84 on 11/19/2020, so more gains to resistance(s) 126.65 and maximum to Major Resistance (127.05) is expected.
  • Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
  • Relative strength index (RSI) is 64.

Supports and Resistances:

  1. 137.50
  2. 133.10
  3. 129.10
  4. 126.65
  5. 122.25
  6. 121.15
  7. 119.30
  8. 117.75
  9. 114.45
Click on the level to view price action history.

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