EURJPY Price Penetrates $133.2 Support Level, Sellers May continue Dominating EURJPY market – Cryptovibes.com – Daily Cryptocurrency and FX News

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EURJPY Price Analysis – June 11

More pressure from the bears will lead to further decrease in EURJPY price, $132.7 may be penetrated and the price may reach the $132.5 and $130.9 price levels. Interruption of the bears’ momentum may reverse the price towards the $133.2, $134.2 and $135.4 levels.

EURJPY Market

Key Levels:

Resistance levels: $133.2, $134.2, $135.4

Support levels: $132.7, $132.5, $130.9

 

EURJPY Long-term Trend: Bearish

EURJPY is bearish on the long-term outlook. Last two weeks, the sellers took over the EURJPY market at the resistance level of $134.2. The sellers pushed down the currency pair to the support level of $133.2. The mentioned support level gives way to the bears’ pressure. The price decreases towards the support level of $132.7 after breaking down the$133.2 price level.

EURJPY Daily chart, June 11

Today, the sellers gain more pressure to push the price to support level at $132.7. The price is trading below the 9 periods EMA and 21 periods EMA which indicate that the bears’ momentum is increasing. The fast moving average (9 day EMA) is bending towards the slow moving average (21 day EMA). More pressure from the bears will lead to further decrease in EURJPY price, $132.7 may be penetrated and the price may reach the $132.5 and $130.9 price levels. Interruption of the bears’ momentum may reverse the price towards the $133.2, $134.2 and $135.4 levels.

EURJPY medium-term Trend: Bearish

On the 4-hour chart, EURJPY is bearish. On June 10, there was a fake breakout towards north but a counter daily bearish candle formed which returned the price to bearish movement. The support level of $133.2 was broken downside and the price is moving towards the support level of $132.7. Further price decrease envisaged.

EURJPY 4 hour chart, June 11

The price is trading below the 9 periods EMA and 21 periods EMA. The relative strength index period 14 is at 30 levels with the signal line pointing up to indicate a buy signal which may be a pullback.

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