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Bulls Finally Prevail Over Bulls, Bearish Market Continues – Cryptovibes.com – Daily Cryptocurrency and FX News

EURJPY Price Analysis – June 18

Further price decrease envisaged through the pressure from the bears and this will lead EURJPY price to $130.8 after it penetrates $130.9, the price may reach the $129.1 price levels. In case the support level of $130.9 is defended by the bulls, the price may reverse towards the $132.0, $132.5 and $133.3 levels.

EURJPY Market
Key Levels:

Resistance levels: $132.0, $132.5, $133.3

Support levels: $130.9, $130.8, $129.1

 

EURJPY Long-term Trend: Bearish

EURJPY is bearish on the long-term outlook. Since the sellers took over the EURJPY market at the resistance level of $133.3. The sellers have been pushing down the currency pair. The support level of $132.5 and $132.0 have been penetrated downside.  The price decreases towards the support level of $130.9 at the moment.

Today is another favorable period for the sellers, they gain more pressure and the price is pushed down to support level at $130.9. The price is trading below the 9 periods EMA and 21 periods EMA which indicate that the bears’ momentum is increasing. The fast moving average (9 day EMA) is crossing the slow moving average (21 day EMA). Further price decrease envisaged through the pressure from the bears and this will lead EURJPY price to $130.8 after it penetrates $130.9, the price may reach the $129.1 price levels. In case the support level of $130.9 is defended by the bulls, the price may reverse towards the $132.0, $132.5 and $133.3 levels.

EURJPY medium-term Trend: Bearish

On the 4-hour chart, EURJPY is bearish. The bears finally prevails over the bulls On June 16, there was a bearish breakout towards south, daily bearish candle formed closed below the support level of $133.3. The support level of $132.5 and $132.0 was broken downside and the price is moving towards the support level of $130.9. Further price decrease envisaged.

The price is trading below the 9 periods EMA and 21 periods EMA. The relative strength index period 14 is at 20 levels with the signal line pointing down to indicate a sell signal.

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