Detailed FX Market Outlook and Analysis

EUR/JPY Daily Analysis

EUR/JPY has come down to 130.71 ahead of the European session. The intraday support levels are at 130.68 and 130.34. The intraday resistance levels are at 131.14 and 131.41.

On the Intraday charts, the current price is near the SMA-50 support line which is at 130.56 while the SMA-14 is indicating resistance at 131.75. The pair is also keeping below the mid-Bollinger band. The upper and lower bands are at 133.42 and 130.60 respectively. The RSI is below at 46 and has a downwards curve. The intraday price pattern is bearish and favors selling entries near 130.90 with a target of 130.40 and a stop-loss at 131.28.

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