A bearish triangle pattern seems to be emerging on EURJPY following the recent recovery. This suggests a sideways consolidation, but bears should be on the lookout for the last wave before it finds support in the negative direction.
The support rests at 128.70 with resistance at 128.80 which the Pivot Point at 128.75 is located above the price line. The EMA of 10 is moving in bearish bias in the decadent channel and it crossed the EMA of 100 and the EMA of 200 which both are moving downward. The RSI is moving in low ranges. In the opposite, The Stochastic is moving in high ranges. The MACD histogram is in positive territory. the ADX is not showing a clear signal.
The price is below the Ichimoku Cloud and the Chinkou Span is moving far away the market price. Both Tenkan-sen and Kijun-sen are both showing a downward trend.

• There is resistance at 128.80, followed by resistance at 128.85 and 128.90.
• There is support at 128.70 Below, there is 128.65 and 128.60.

Note: We do not suggest any investment advice, and these analyses are just to increase the traders’ awareness but not a certain instruction for trading.

analysiseur