EUR/JPY Daily Outlook: Stability Above Key Support Levels
Monday, 22 July 2024, 07:00
EUR/JPY Market Overview
The EUR/JPY currency pair has shown resilience in the face of recent fluctuations, remaining above the key support level of 169.98 despite today's fall.
Current Technical Analysis
- Intraday bias remains neutral;
- Further decline expected if resistance at 172.91 holds;
- Potential target below 169.98 is 166.90, representing a 38.2% retracement of the previous rise.
- Breaking above 172.91 could indicate a shift towards bullish momentum.
Conclusion
Market participants should closely monitor these critical levels to navigate potential trading opportunities in the EUR/JPY pair effectively.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.