EUR/JPY rates could reverse lower in the coming days, as a Shooting Star candle forms at the 61.8% Fibonacci (131.74).
Bearish RSI divergence indicates that the climb to fresh yearly highs may be running out of steam, leaving the exchange rate vulnerable to a pullback in the near term.
Failing to gain a firm foothold above psychological resistance at 132.00 on a daily close basis could encourage would-be sellers and generate a downside push back to former resistance-turned-support at the March high (129.67).
Conversely, clearing 132.00 convincingly probably signals the resumption of the primary uptrend and brings the April 2018 high (133.49) into play.
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Bearish RSI divergence indicates that the climb to fresh yearly highs may be running out of steam, leaving the exchange rate vulnerable to a pullback in the near term.
Failing to gain a firm foothold above psychological resistance at 132.00 on a daily close basis could encourage would-be sellers and generate a downside push back to former resistance-turned-support at the March high (129.67).
Conversely, clearing 132.00 convincingly probably signals the resumption of the primary uptrend and brings the April 2018 high (133.49) into play.
If you find this helpful and want more FREE Updates on TradingView
. . . . . Please show your support back,
. . . . . . . . Hit the 👍 LIKE button,
. . . . . . . . . . . Drop some feedback below in the comment!
❤️ Your Support is very much 🙏 appreciated! ❤️
💎 Want us to help you become a better Forex trader?
Now, It's your turn!
Be sure to leave a comment let us know how do you see this opportunity and forecast.
1_GFX English Support Team ❤️