The EURJPY needs new negative momentum – Analysis – 8-12-2022

Economies.com
5 months ago

The EURJPY pair touched 143.15 level yesterday, followed by starting to form positive waves due to the lack of the negative momentum, to move towards the additional barrier 143.85, while the contradiction between the major indicators’ positivity against the main stability within the minor bearish channel might force the price to provide sideways trades until gathering the negative momentum, to ease the mission of reaching the negative stations at 142.70 and 142.10.

 

On the other hand, regaining the bullish bias requires breaching the bearish channel’s resistance at 145.00 to open the way to target many positive stations in the upcoming period by reaching 145.65.

 

The expected trading range for today is between 144.10 and 142.70

 

The expected trend for today: Bearish

Forex and Currency News

EUR/USD news

Forex

Euro tries to recoup from low levels amid calm trading
23 hours ago
Euro rose in European trade amid attempts to recoup from two-month lows against dollar, and on ...
EUR/USD news

Forex

Euro on track for third weekly loss in row
4 days ago
Euro rose in European trade on Friday for the first time in four sessions against dollar amid ...
Forex News

Forex

Fed Minutes: officials are less confident of the need for more rate hikes
5 days ago
The Federal Reserve's meeting minutes showed division between officials on the need for further ...

Forex Technical Analysis

Technical Analysis

Forex

The GBPCAD exits the bullish track – Analysis – 30-5-2023
2 hours ago
The GBPCAD pair faced strong negative pressures recently to force it to crawl below the bullish ...
EUR JPY Analysis

Forex

The EURJPY achieves some gains – Analysis – 30-5-2023
2 hours ago
The EURJPY pair took advantage of the positive fluctuation above 149.80 to confirm its surrender to ...
GBP JPY Analysis

Forex

The GBPJPY provides positive signal – Analysis – 30-5-2023
2 hours ago
The GBPJPY pair took advantage of the frequent stability within the bullish channel, forming new ...