The price might bounce towards the $124, $125, and $126 resistance levels offered the support amount of $122 holds. In case the support level of $122 does not include the price, then, $121 and $120 support level might be tested.
EURJPY Trend that is long-lasting
EURJPY market ended up being dominated by the bulls fourteen days ago and the degree of $126. The bullish momentum became weak and could not break the opposition level up at $26; that is exactly why the market closes with the daily candle switched to an inverted hammer on September 10. The strong candle that is bearish the market on 14 September and the support level at $125 was penetrated towards the downside. The purchase price falls to test the support level at $122.
The 9 periods EMA has crossed the 21 periods EMA downside together with set has penetrated the two EMAs disadvantage; this might be an indicator that the bears come in charge of the EURJPY market. The price may bounce towards the $124, $125, and $126 resistance levels provided the support level of $122 holds. Just in case the support degree of $122 will not hold the cost, then, $121 and $120 support degree may be tested. The price might bounce towards the $124 level if all goes as expected.
EURJPY movement that is medium-term
EURJPY continues its bearish motion which it commenced week that is last. The bears increase their momentum and break the support levels down of $125 and $124. The cost found help at $122, bounced, and retests the time that is 2nd. The purchase price might reverse at the $122 cost level. The purchase price is trading below 9 durations EMA and 21 periods EMA and the two EMAs are separated from each other and which shows a trend that is bearish. The energy that is relative period 14 is at 30 levels pointing up showing a buying signal. When the market opens, traders can place Buy Stop at $124.497, Stop Loss at $123.317, and just Take Profit at $125.329.