The EURJPY begins to decline – Analysis – 10-11-2023

Economies.com
2023-11-10 07:14AM UTC

The EURJPY pair surrendered to the stability of the major resistance 161.90 to notice activating the correctional bearish track by touching 161.35, assuring the importance of gathering the additional negative momentum to ease the mission of breaking 161.30 and open the way to reach the additional negative stations that start at 160.90 followed by reaching the first main target at 160.15.

 

On the other hand, failing to achieve the required break will confirm surrendering to the domination of the sideways bias, to confine trades within tight track represented by the current support and 161.70.

 

Advertistment

The expected trading range for today is between 161.60 and 160.90

 

The expected trend for today: Bearish

Forex and Currency News

EUR/USD news

Forex

Euro trades near three-week trough on cautious remarks
2023-12-05 07:40AM UTC
Euro fell in European trade on Tuesday against a basket of major rivals, extending losses for the ...
Forex News

Forex

Dollar moves in positive zone despite prospects of early rate cuts
2023-12-04 11:59AM UTC
Dollar rose in European trade on Monday against a basket of major rivals, on track for the third ...
EUR/GBP news

Forex

Sterling gives up three-month high against euro on profit-taking
2023-12-04 11:31AM UTC
Sterling fell in European trade on Monday against euro away from three-month highs and on track for ...

Forex Technical Analysis

EUR USD Analysis

Forex

Evening update analysis for the EURUSD 05-12-2023
2023-12-05 17:01PM UTC
The EURUSD pair shows additional bearish bias to approach our waited negative target at 1.0760, and ...
GBP USD Analysis

Forex

Midday update for the GBPUSD 05-12-2023
2023-12-05 10:35AM UTC
The GBPUSD pair fluctuates near the EMA50, and it keeps its stability above 1.2590 level, keeping ...
EUR USD Analysis

Forex

Midday update for the EURUSD 05-12-2023
2023-12-05 10:35AM UTC
The EURUSD pair resumes its negtaive trading in attempt to move away from 1.0860 level, rienforcing ...