PRESS RELEASE: EURJPY Will Roll down to $123 Level in Case the Bears Defend $125 Price Level

PRESS RELEASE: EURJPY Will Roll down to $123 Level in Case the Bears Defend $125 Price Level
April 6, 2019
Crypto Daily Roundup – Apr 6, 2019
April 6, 2019

EURJPY Price Analysis – April 5

The Bullish breakout at the supply level of $125 will expose the $127 price level. Should the Bears defend the level of $125 then EURJPY will roll down to $123 level.

EURJPY Market

Key levels:

Supply levels: $125, $127, $129

Demand levels: $123, $121, $118

EURJPY Long-term trend: Bearish

On the daily chart, EURJPY maintains its bearish trend. USDJPY continues trading within the falling wedge. According to our prediction, last week; the demand level of $123 did holds and the Bears could not break it downward, the currency pair ranged towards the supply level of $125 with the aid of the Bulls momentum. Throughout last week the Bulls were in control of the USDJPY market. Breakout is highly anticipated this week.

EURJPY Daily chart, April 5

The currency pair continues trading below the 21 periods EMA and the 50 periods EMA which connotes a strong bearish momentum. However, the Moving Average Convergence Divergence period 12 with its histogram faintly appear above the zero levels and the signal line below zero levels but point up connotes buy signal within the bearish trend. The Bullish breakout at the supply level of $125 will expose the $127 price level. Should the Bears defend the level of $125 then EURJPY will roll down to $123 level.

EURJPY Short-term Trend: Bearish

EURJPY is on the downtrend on the 4-hour chart. Break out from the falling wedge is not yet occur; that is trading within the formed falling wedge on the 4-hour chart continues. The bullish momentum that commenced on March 28 from the lower trend line of the falling wedge has pushed the EURJPY price to touch the $125 price level.

EURJPY 4-hour chart, April 5

There is a tendency for the price to bounce back to the lower trend line of the falling wedge pattern.

The MACD period 12 with its histogram is above the zero levels pointing down to indicate sell signal.

Please note: cryptovibes.com is not a financial advisor. Do your own research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results

The post EURJPY Will Roll down to $123 Level in Case the Bears Defend $125 Price Level appeared first on FXTimes.com – Daily Cryptocurrency and FX News .

This is a syndicated post from https://www.cryptovibes.com/analysis/eurjpy-will-roll-down-to-123-level-in-case-the-bears-defend-125-price-level/

Comments are closed.