- The EUR/JPY is feeling the pull of gravity in Asia, having charted back-to-back daily doji candles.
- The bullish exhaustion/indecision signaled by doji candles would gain more credence if the pair closes today below the previous day's low of 129.39.
- The bearish daily close is more likely to happen as the currency pair is eroding trendline rising from the Oct. 26 low of 126.63, as can be seen in the 4-hour chart below. Further, the relative strength index (RSI) has turned bearish below 50.00.
- The corrective rally will likely resume if the spot finds acceptance above the weekly high of 130.15.
Hourly Chart
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Trend: Bearish
EUR/JPY
Overview:
Last Price: 129.33
Daily change: -17 pips
Daily change: -0.131%
Daily Open: 129.5
Trends:
Daily SMA20: 128.89
Daily SMA50: 129.91
Daily SMA100: 129.51
Daily SMA200: 130.27
Levels:
Daily High: 130.15
Daily Low: 129.39
Weekly High: 129.34
Weekly Low: 127.24
Monthly High: 132.49
Monthly Low: 126.63
Daily Fibonacci 38.2%: 129.68
Daily Fibonacci 61.8%: 129.86
Daily Pivot Point S1: 129.21
Daily Pivot Point S2: 128.92
Daily Pivot Point S3: 128.46
Daily Pivot Point R1: 129.97
Daily Pivot Point R2: 130.43
Daily Pivot Point R3: 130.72
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