EUR/JPY Price Analysis: Pair lastly broke down listed below assistance and fell towards 163.00.
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 pressur...