EUR/JPY intraday: the upside prevails as long as 123.08 is support

Trading Central 2020-11-20 13:35:06

Our pivot point stands at 123.08.

Our preference: the upside prevails as long as 123.08 is support.

Alternative scenario: the downside breakout of 123.08 would call for 122.74 and 122.54.

Comment: the RSI is above its neutrality area at 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the pair is trading above both its 20 and 50 MAs (respectively at 123.28 and 123.14).

Supports and resistances:

124.38 **

124.18 *

123.98 **

123.78

123.37 last

123.21

123.08 **

Disclaimer
The trading strategy containing reference trading prices and analysis opinions is provided by the third-party provider Trading Central.And the trading strategy is only the personal research and judgment by analysts,which is not a statement of facts.No representation or warranty is given as to the accuracy or completeness of this strategy. Consequently any person acting on it does so entirely at their own risk. TOP1 accepts no responsibility for any use that may be made of these comments and for any consequences that result.

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