EURJPY Analysis

Analytic Dave 10/28/2021 11:45:00 PM

EURJPY Analysis Friday

EUR/JPY-Euro vs. Japanese Yen

Historically, YEN has taken a position as a low-yielding currency. Based on its optimism, EUR/JPY is a good choice for swing traders. However, it is vital to clarify that news flow, economic conferences, speeches, and the Euro debt crisis might trigger unexpected volatility. Being a Friday, markets are a bit slow. Nonetheless, as Analytic Dave, we must provide insights and a daily preview of the market.

Support

Support 1: 128.57

Support 2: 128.15

Support 3: 127.30

Resistance

Resistance 1: 123.86

Resistance 2: 130.34

Resistance 3: 130.73

Pivot Points

Pivot 132.66

Support 3: 132.45

Support 2: 132.56

Support 1: 132.63

Resistance 1: 132.73

Resistance 2: 132.78

Resistance 3: 132.89

EURJPY Live Preview

Analysis

Generally, EURJPY is already at an exhaustion phase. However, bulls are still trying to push up. Today, there is a high chance that EURJPY might see 132. 839 zone. Though, in the long term, we are firmly in a bearish trend. Therefore, a SELL at 132.660 will have the first take profit at around 132. 349. Long term traders have the opportunity to hold the SELL to the zone below 129.531.

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