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EUR/JPY intraday: as long as 163.90 is support look for 165.13

2024-04-04
1062

163.90 is our pivot point.

Our preference: as long as 163.90 is support look for 165.13.

Alternative scenario: below 163.90, expect 163.43 and 163.16.

Comment: the RSI is trading above 70. This could mean that either the pair is in a lasting uptrend or just overbought and that therefore a correction could shape (look for bearish divergence in this case). The MACD is below its signal line and positive. The pair could retrace. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 164.26 and 163.73).

Supports and resistances:

165.68 **

165.40 *

165.13 **

164.85

164.30 last

164.08

163.90 **

The above information is provided by special analysts and is for reference only. CM Trade does not guarantee the accuracy, timeliness and completeness of the information content, so you should not place too much reliance on the information provided. CM Trade is not a company that provides financial advice, and only provides services of the nature of execution of orders. Readers are advised to seek relevant investment advice on their own. Please see our full disclaimer.

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