EUR/JPY Is in a Range but May Further Decline to 133.52 Low

Updated:

Checkmark

Invest at least $250 in D2T to gain lifetime access to our VIP Signals

Checkmark

Get early access to Dash 2 Trade’s Presale. Buy the D2T token now

Checkmark

Existing community of 70,000+ traders

Checkmark

Unlocks access to the leading crypto trading analysis, signals and trading tools

Checkmark

As featured in CryptoNews.com, FXEmpire.com, FXStreet.com and more

Checkmark

World class development team backed by Quant developers and VC investors


Key Resistance Levels: 132.00, 133.00, 134.00
Key Support Levels: 129.00, 128.00, 126.00

EUR/JPY Price Long-term Trend: Bearish
EUR/JPY pair is in a downtrend but may further decline to 133.52 low. However, the currency price is stuck at the 50-day line SMA. The Yen is trading above the 50-day line SMA but below the 21-day line SMA, The selling pressure will resume if price breaks below the 50-day line SMA. Meanwhile, on September 26 downtrend, a retraced candle body tested the 61.8% Fibonacci retracement level. The retracement suggests that EUR/JPY will fall to level 1.618 Fibonacci extension or level 133.52. In the meantime, the bears are attempting to break below the 50-day line SMA.

EUR/JPY Is in a Range but May Further Decline to 133.52 Low
EUR/JPY – Daily Chart

Daily Chart Indicators Reading:
The currency pair is at level 47 of the Relative Strength Index period 14. It indicates that the pair is in the bearish trend zone and may further decline. The price bars are between the moving average lines indicating a range-bound move of the pair. The moving average lines are sloping horizontally indicating the sideways move.

EUR/JPY Medium-term Trend: Bearish
On the 4-hour chart, the Yen is in a downtrend but it is making an upward correction. The price bars are between the moving average lines indicating a possible range-bound move of the pair. Meanwhile, on September 22 downtrend, a retraced candle body tested the 78.6% Fibonacci retracement level. The retracement suggests that EUR/JPY will fall to level 1.272 Fibonacci extension or level 137.40.

EUR/JPY Is in a Range but May Further Decline to 133.52 Low
EUR/JPY – 4 Hour Chart

4-Hour Chart Indicators Reading
The pair is below the 80% range of the daily stochastic. The Yen was earlier in the overbought region. The market is now in a bearish momentum. The price bars are between the moving average lines indicating a possible range-bound move.

General Outlook for EUR/JPY
EUR/JPY is trading in a range but may further decline to 133.52 low. Presently the upward correction is facing rejection at the recent high. The pair may likely decline to the downside.


You can purchase crypto coins here: Buy LBLOCK


Note: Learn2.Trade is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit
9.8

Highly volatile unregulated investment products. No EU investor protection.

  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
9.8
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$200 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9
Share with other traders!

Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.