EUR/JPY Daily Outlook: Key Levels and Market Sentiment Analysis
Monday, 29 July 2024, 07:06
EUR/JPY Daily Market Overview
The current intraday bias in EUR/JPY remains neutral, as it consolidates above the temporary low of 164.81. Despite this neutrality, the market outlook appears bearish as long as the resistance level at 169.98 remains intact.
Key Resistance and Support Levels
- Resistance Level: 169.98
- Support Level: 164.29
- Temporary Low: 164.81
Potential Market Movements
A decisive break below 164.29 could indicate a larger correction is underway, potentially targeting the Fibonacci level of 155.91.
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.