Forex News Shares

EUR/JPY Price Reverses at $122 Support Level, Shooting $126 Resistance Level


There’s a probability that is high the price will increase to $125 cost degree, by which it could expand to $126 and $127 resistance degree provided $125 level will not hold. The help levels to watch are $124, $122, and $123.

Key Levels:
Supply levels: $125, $126, $127
Demand amounts: $124, $122, $121

EURJPY Trend that is long-term
EURJPY market plays just how we predicted week that is last there is an amount rejection at the need degree of $122, the price reverses and increases to split up the very last week’s resistance degree at $124. The cost is aiming at a opposition that is significant of $125. The purchase price is bullish into the movement that is long-term.

EURJPY frequent chart, 09 October
A week ago, industry closes below the two support that is dynamic near the $122 cost level. Today, the bulls have forced up the purchase price over the 9 durations EMA and 21 periods EMA. There exists a probability that is high the purchase price will increase to $125 price degree, in which it could extend to $126 and $127 resistance degree provided $125 level does not hold. The support levels to watch are $124, $122, and $123. The power that is relative period 14 using its signal line is above 50 amounts pointing up to indicate a buy signal.

EURJPY movement that is medium-term
EURJPY is bullish in the outlook that is medium-term. The currency set was bearish final fourteen days together with energy that is bearish the purchase price during the help degree of $122. The bulls opposed the cost decrease using the formation of bullish candles. The purchase price enhance and penetrated the $124 price level upside.

EURJPY chart that is 4-hour October 09
EURJPY is dealing above the 9 periods EMA and 21 durations EMA together with two EMAs are following a trend for the price. The strength that is relative duration 14 is bending down at 60 amounts to indicate a sell sign which might be a pullback. At the opening for the market week that is next traders can place a purchase take a look at $125.596, take profit at $126.990, and stop-loss at $125.032.


Billy Houghton

Billy Houghton is a top acclaimed and sought-after commodities futures trading expert. The expertise and in-depth level of analysis that is offered by Billy Houghton is what has managed to put him at the stage of being the top ranked author for MetaNews among multiple different categories. Throughout his career, Billy has specifically spent over three decades on Wall Street fine-tuning his skills, which included over two decades at a trading desk. In more recent times, specifically the last decade, Billy has been researching algorithms of AI in futures trading, and believes they are the future of trading.
Follow Me:

Related Posts