EURJPY: Could be a strong support area!
The steep falling might hurt some traders’ hearts. The price has gone down from 125.71 to now 123.90, which is really a big drop.
So, would the price go back to 125 again?
Last month, the price kept fluctuating around 125.5, and that price last for a month. The pressure from the resistant point this time could be strong, however, I would say, the strong trend last month could not be defeated in such a short period.
The price already left the lower band of the Bollinger Band, which means it could be on the way to bounce back to the middle of the Bollinger Bands.
The RSI just went through an oversold point and is now trying to recover.
The MACD seems still in a downward trend, however, we know that this is a lagging indicator.
So, let’s expect the price to go up.
So, would the price go back to 125 again?
Last month, the price kept fluctuating around 125.5, and that price last for a month. The pressure from the resistant point this time could be strong, however, I would say, the strong trend last month could not be defeated in such a short period.
The price already left the lower band of the Bollinger Band, which means it could be on the way to bounce back to the middle of the Bollinger Bands.
The RSI just went through an oversold point and is now trying to recover.
The MACD seems still in a downward trend, however, we know that this is a lagging indicator.
So, let’s expect the price to go up.
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Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.