EURJPY: Key Technical Analysis on the Crosses as Price Targets Shift

Wednesday, 21 August 2024, 23:49

EURJPY technical analysis indicates a bullish trend with the next target above 162.50. Resistance is noted at 162.70, while initial downside focus is at 161.17. This insight is crucial for traders looking to navigate EURJPY movements effectively.
Fxstreet
EURJPY: Key Technical Analysis on the Crosses as Price Targets Shift

EURJPY Technical Analysis Overview

In the EURJPY market, the technical analysis reflects an upward momentum. Traders should pay attention to key resistance and support levels.

Resistance Levels

  • Major resistance is forming at 162.70.

Support Levels

  1. Initial downside target to watch is 161.17.

Strategic Implications for Traders

Understanding these levels is vital for making informed decisions regarding future trades on the EURJPY crosses. Focusing on price movements can offer key insights into market behavior.


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.


Related posts


Newsletter

Get the most reliable and up-to-date financial news with our curated selections. Subscribe to our newsletter for convenient access and enhance your analytical work effortlessly.

Subscribe