EURJPY Pressure: Support 159.552, Interest Rate Resistance
EURJPY is declining after hitting strong resistance at 163.000, causing a price pullback.
The 34 and 89 EMAs are acting as resistance levels, adding selling pressure in the market.
The MACD indicator shows that downward momentum is slowing, but there is no clear signal of a strong reversal yet.
If the price holds above the 159.552 support and shows signs of recovery, investors may consider opening buy positions with a target around 161.000 - 162.000.
Regarding news: Interest rate decisions from the ECB and BOJ will significantly impact EURJPY. Tightening from the ECB may push EUR higher, while BOJ's negative rates could weaken JPY.
The 34 and 89 EMAs are acting as resistance levels, adding selling pressure in the market.
The MACD indicator shows that downward momentum is slowing, but there is no clear signal of a strong reversal yet.
If the price holds above the 159.552 support and shows signs of recovery, investors may consider opening buy positions with a target around 161.000 - 162.000.
Regarding news: Interest rate decisions from the ECB and BOJ will significantly impact EURJPY. Tightening from the ECB may push EUR higher, while BOJ's negative rates could weaken JPY.
Related publications
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.