Bearish Scenario:
Failure to break above 50 SMA → price may retest 200 SMA at ~172.300.
A break below 172.300 opens the path to 171.500–171.000.
Summary
EUR/JPY is in short-term bearish correction after a recent uptrend.
Immediate support: 172.300, resistance: 173.500.
RSI rebound suggests a minor recovery, but major trend remains cautious until price clears 50–100 SMA.
Trading Signal Suggestion:
Conservative Buy: Near 172.300–172.500 with tight stop-loss below 172.200, target 173.500.
Aggressive Sell: Below 172.300 for continuation of bearish correction toward 171.500.
Failure to break above 50 SMA → price may retest 200 SMA at ~172.300.
A break below 172.300 opens the path to 171.500–171.000.
Summary
EUR/JPY is in short-term bearish correction after a recent uptrend.
Immediate support: 172.300, resistance: 173.500.
RSI rebound suggests a minor recovery, but major trend remains cautious until price clears 50–100 SMA.
Trading Signal Suggestion:
Conservative Buy: Near 172.300–172.500 with tight stop-loss below 172.200, target 173.500.
Aggressive Sell: Below 172.300 for continuation of bearish correction toward 171.500.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.