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The currency pair rebounded in the last hours and now is located at 158.46 level at the time of writing. After the last sell-off, the rate tries to rebound. EUR/JPY could test and retest the immediate resistance level before going down. The Japanese Yen Futures' further growth could boost the JPY.
Fundamentally, the Spanish Flash GDP reported a 0.3% growth versus the 0.2% growth estimated. On the other hand, the Tokyo Core CPI came in better than executed as well.
Technically, the price is trapped between the 158.93 and 157.99 levels. As you can see on the H1 chart, the rate escaped from the major ascending channel, but a downside continuation is far from being confirmed.
USD/JPY has found support on the former low of 157.99 again and now it challenges the broken uptrend line.
A bearish closure below 157.99 activates more declines. This scenario is seen as a selling opportunity. This scenario could be invalidated if the rate makes a new higher high.
*এখানে পোস্ট করা মার্কেট বিশ্লেষণ আপনার সচেতনতা বৃদ্ধির জন্য প্রদান করা হয়, ট্রেড করার নির্দেশনা প্রদানের জন্য প্রদান করা হয় না।
ইন্সটাফরেক্স বিশ্লেষণমূলক পর্যালোচনাগুলো আপনাকে মার্কেট প্রবণতা সম্পর্কে পুরোপুরি সচেতন করবে! ইন্সটাফরেক্সের একজন গ্রাহক হওয়ায়, দক্ষ ট্রেডিং এর জন্য আপনাকে অনেক সেবা বিনামূল্যে প্রদান করা হয়।
