EURJPY not stable – Analysis – 01-06-2016
The EURJPY pair touched 124.20 level, to form new obstacle against the bullish attempts, which forced it to form negative rebound and decline below 123.25 level again, and that supports moving unorganized due to the available chances to decline towards 122.10 level, while rallying above 123.25 level will put the price within the bullish bias and renew the pressure on the recently recorded top.
Therefore, we will suggest the bearish bias for the near term trading to depend on the stability of 123.25 level as an initial resistance, to notice the stability of the moving average around this level and increase the negative pressure on the near term and medium term trading.
Expected trading range for today is between 123.25 and 122.00
Expected trend for today: Bearish
Forex and Currency News
Forex
Yen extends losses as Banks of Japan holds off intervention
Yen fell in Asian trade on Friday against a basket of major rivals, extending losses for the second ...
Forex
Euro extends gains to two-month highs amid positive outlook
Euro rose in European trade on Thursday against a basket of major rivals, extending gains for the ...
Forex
Yen gains ground as US treasury yields dip
Yen rose in Asian trade on Thursday against a basket of major rivals, extending gains for the ...
Forex Technical Analysis
Forex
The GBPUSD forecast update 17-05-2024
GBPUSD Price Analysis Expected Scenario The GBPUSD price provides additional negative ...
Forex
The GBPCHF repeats the attempt to exit the negative track – Forecast today – 17-5-2024
GBPCHF Price Analysis Expected Scenario The GBPCHF price returned to form new bullish ...
Forex
The EURJPY hovers around the barrier – Forecast today – 17-5-2024
EURJPY Price Analysis Expected Scenario The EURJPY pair took advantage of stochastic ...