FX.co ★ Ambulances | EUR/JPY

Technical analysis of EURJPY Today I choose EUR/JPY for technical analysis, and the market price is falling, which helps to reduce costs. At this time, the market price is above the 50-day simple moving average, and after breaking the resistance level it became the support level 161.89. The 200-day simple moving average (currently acting as support), the price is expected to drop further below the moving average in the coming days. The price is above the minor support at 162.50. The market price is in line with the minor support level, technically the market will rise from the support level to the resistance level. The market price should now technically break out and move to the next resistance level and the 50-day simple moving average. {"data-align":"none","data-size":"custom","data-tempid":"temp_5044553_1734811312424_529","height":"549","width":"1163"} If you see the market price in the EUR/JPY 1-hour time frame, the price is falling, which is a clear sell trend. The market price has started to rise from the support level, and it can be said that it will not rebound until the 50-day simple moving average. The 50-day simple moving average closed above market resistance and the 200-day simple moving average closed above market resistance level. If we look at the RSI indicator, the RSI indicator tells us that the market is falling. Currently, the value of the RSI indicator is between 30 and 70, which is 59. now the market pulls back and goes up to the resistance level. The indicator used in this chart : 50-day simple moving average color Navy: 200-day simple moving average color Chocolate: RSI indicator period 14: