EUR/JPY looking to consolidate above 132.00

EUR/JPY looking to consolidate above 132.00

EUR/JPY has been immersed in a corrective move since August 30th, looking forward to test a demand zone between the 50% and 61.8% at 129.61 and 128.99 respectively, according to our Fibonacci outlook. At H1 chart, we can note that a bearish crossover of moving averages is happening and it could strengthen the bearish bias in the pair.

If it manages to rebound above the demand zone, it can be targeting the -23.6% Fibonacci retracement level at 132.66, which should be our for objective in a first degree. RSI indicator is at oversold territory.



Latest news

GBP/USD: pound entered into channel Tenkan-Kijun

Bullish Ichimoku Cloud with horizontal Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen with horizontal lines; the market is under strong resistance and prices entered into the channel Tenkan-Kijun.


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