EURJPY: ⬇️ Sell
– EURJPY reversed from resistance area
– Likely to fall to support level 161.25
EURJPY currency pair recently reversed down from the resistance area between the resistance level 164.00 (which has been reversing the price from January), upper daily Bollinger Band and the 50% Fibonacci correction of the downward impulse from July.
The downward reversal from this resistance area stopped the previous short-term correction ii.
Given the clear daily downtrend and the overbought daily Stochastic, EURJPY currency can be expected to fall toward the next support level 161.25.
Source: Fxpro
