Technical Update on JPY Pairs: Bearish Trends Resuming
Monday, 19 August 2024, 07:32
Latest Insights on JPY Pairs
Technical Update reveals that JPY pairs, notably USDJPY and EURJPY, are showing signs of resuming established downtrends. A critical resistance at 164.00 for EURJPY has held firm, while USDJPY tests vital levels for a potential trend reversal.
USDJPY Trends
- The key level to watch is 149.42. A close above this threshold could shift the current bearish sentiment.
EURJPY Performance
EURJPY has faced rejection at the 200-day moving average, suggesting continued pressure.This resistance is pivotal to the ongoing downtrend.
Conclusion
Market participants should remain vigilant as economic factors influence these currency trends.
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.