13:03, 18 December
EURJPY Daily Analysis
The EURJPY pair traded lower for the fourth straight session on Friday and closed at 132.30, after notching a low at 132.06. Currently, a potential signal line crossover from below by the 4H MACD, along with the 8H RSI and stochastic indicators heading towards the north, reflects a positive technical outlook. In addition, the daily RSI and stochastic indicators are trading with an upside tone, further validating the above stance. Key technical resistance is aligned at the 2H 200SMA (currently placed at 133.00), followed by the 4H upper Bollinger Band (currently trading at 133.52/55) and 133.89 level. A surge above the latter might trigger bullish momentum in the pair. On the other hand, crucial support is situated at the 132.19/15 level, followed by the 4H lower Bollinger band (currently trading at 131.88/85) and the daily lower Bollinger band (currently placed at 131.45). A breach below the latter might lead to further negativity in the pair.