FxWirePro Currency Strength Index for EUR/JPY: Bias Bearish
FxWirePro's Hourly EUR Spot Index was at -75.8942 (Bearish)
FxWirePro's Hourly JPY Spot Index was at 66.9157 (Neutral)
Technical Analysis:
- Price action capped at 100-DMA on daily charts.
- MACD has shown a bearish crossover and RSI biased south.
- -ve DMI dominance on daily charts and ADX rising.
- On 1H charts, price has been rejected multiple times at 55-EMA.
- Stochs have shown a bearish rollover from overbought levels.
Support levels - 132.04 (50% Fib 169.96 to 94.114 fall), 131.16 (Nov 20 low), 130.76 (200-DMA)
Resistance levels - 133.58 (100-DMA), 133.63 (1H 55-EMA), 134.17 (1H 110-EMA)
Recommendation: Good to go short around 133.40/50, SL: 134.20, TP: 133/ 132/ 131.20
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