Get started
TipTVFinance

EUR/JPY - Falling tops on price, Rising bottoms on RSI

Euro / Japanese Yen (FX:EURJPY)  
TipTVFinance  
FX:EURJPY   Euro / Japanese Yen
EURJPY Currencies trading Forex
3
1
eurjpy currencies trading forex
Resistance - 123.36, 124.40, 125.00

Support - 121.60-121.50, 120.00, 119.11

  • Price chart shows falling top formation remains in place, still, despite sharp BOJ-led sell-off in the cross, the rising bottom formation on the daily RSI is intact.
  • Hence, odds of a recovery to 123.36 are high next week, unless the cross sees a daily close below 121.60-121.50 on the daily chart. which will mark a failure of bullish price-RSI divergence.
  • In such a case, the sell-off may gather pace , courtesy of which support at 120.00-119.11 could be put to test
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.