EUR/JPY Intraday: below its lower Bollinger band
Nov 20, 2024 3:19 PM
the downside prevails as long as 164.41 is resistance.
Our pivot point is at 164.41.
Our preference:
the downside prevails as long as 164.41 is resistance.
Alternative scenario:
the upside breakout of 164.41, would call for 165.08 and 165.48.
Comment:
the RSI is trading below 30. This could mean that either the pair is in a lasting downtrend or just oversold and that therefore a rebound could shape (look for bullish divergence in this case). The MACD is negative and below its signal line. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 164.34 and 164.02). Finally, the EUR/JPY is trading below its lower Bollinger band (standing at 163.76).
Supports and resistances:
165.48 **
165.08 *
164.41 **
164.14
163.42 last
162.52
162.12 **
161.72 *
161.32 **
Our preference:
the downside prevails as long as 164.41 is resistance.
Alternative scenario:
the upside breakout of 164.41, would call for 165.08 and 165.48.
Comment:
the RSI is trading below 30. This could mean that either the pair is in a lasting downtrend or just oversold and that therefore a rebound could shape (look for bullish divergence in this case). The MACD is negative and below its signal line. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 164.34 and 164.02). Finally, the EUR/JPY is trading below its lower Bollinger band (standing at 163.76).
Supports and resistances:
165.48 **
165.08 *
164.41 **
164.14
163.42 last
162.52
162.12 **
161.72 *
161.32 **
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EUR/JPY
163.153
-0.700
-0.43%