EUR/JPY intraday: target 127.31

EURJPY

Trading Central 2021-02-20 02:56:19

Our pivot point stands at 128.14.

Our preference: target 127.31.

Alternative scenario: the upside breakout of 128.14, would call for 128.43 and 128.60.

Comment: the RSI is below its neutrality area at 50. The MACD is positive and below its signal line. The MACD must penetrate its zero line to expect further downside. Moreover, the pair is trading under its 20 period moving average (127.93) but above its 50 period moving average (127.83).

Supports and resistances:

128.60 **

128.43 *

128.14 **

128.02

127.90 last

127.49

127.31 **

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