- EUR/JPY sank on Friday to near 163.10 after a 0.72% decrease on the day.
- Set's rate action plunged to 163.00 after dealing with rejection at the 164.00 SMA.
- The MACD and RSI technical signs indicated increasing selling pressure, adding to the set's drop.
The EUR/JPY currency set experienced a considerable decrease on Friday, losing 0.72% to reach a low of 163.10. Prior to this drop, the set dealt with resistance at the 164.00 Simple Moving Average (SMA), which added to its down motion.
The technical signs used in this analysis, particularly the Moving Average Convergence Divergence (MACD) and Relative Strength Index (RSI), additional highlight the bearish belief surrounding the EUR/JPY set. The MACD pie chart's red pigmentation and increasing size indicate increasing selling pressure, supported by the MACD line's position listed below the signal line. The RSI, with a worth of 43, lives in unfavorable area and displays a dramatically decreasing slope, showing a boost in offering pressure.
The set's possible extension of its down trajectory is recommended by its trading listed below the 163.50 resistance level. Assistance levels at 163.00, 162.50, and 162.00 are worthy of attention, while resistance levels at 164.00, 164.50, and 165.00 warrant tracking.
EUR/JPY everyday chart
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