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EURJPY Price Topped at $132.7, a Bearish Reversal Movement Envisaged – Cryptovibes.com – Daily Cryptocurrency and FX News

EURJPY Price Topped at $132.7, a Bearish Reversal Movement Envisaged – Cryptovibes.com – Daily Cryptocurrency and FX News


EURJPY Price Analysis – May 21

Should the bears increase their pressure, the support level of $132.5 may be broken downside and the bearish momentum may extend to $132.0 and $130.9 price level.  In case the Bulls defend the support level of $132.5, the coin will continue to increase towards the resistance level of $132.7, $133.2, and $134.2.

EURJPY Market

Key Levels:

Resistance levels: $132.7, $133.2, $134.2

Support levels: $132.5, $132.0, $130.9

 

EURJPY Long-term Trend: Bullish

On the long-term outlook, EURJPY is bullish. The bulls increased their pressure, the resistance level of $132.5 was broken upside. The bullish momentum extends to $132.7 but the bears interrupted the uptrend movement. Today, the price is pulling back; this is shown on the daily chart with the formation of daily bearish candle. The price is moving towards the $132.5 level.

EURJPY Daily chart, May 21

The fast moving average (9 day EMA) remains above the slow moving average (21 day EMA) and the price is trading above the two EMAs which indicate that the bulls’ momentum is increasing. Should the bears increase their pressure, the support level of $132.5 may be broken downside and the bearish momentum may extend to $132.0 and $130.9 price level.  In case the Bulls defend the support level of $132.5, the coin will continue to increase towards the resistance level of $132.7, $133.2, and $134.2. The relative strength index period 14 is bending down at 60 to indicate sell signal.

EURJPY medium-term Trend: Bearish

On the 4-hour chart, EURJPY is bearish. EURJPY increased and tested the resistance level of $132.7 two times last week. The bulls’ pressure fails and the price is currently decreasing towards the support level of  $132.5. There is possibility for further price declination.

EURJPY 4 hour chart, May 21

The two EMAs are crossing each other. The price is trading below the 9 periods EMA and 21 periods EMA. The relative strength index period 14 is at 40 levels with the signal line pointing up to indicate a buy signal which may be a pullback.



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