EUR/JPY Technical Analysis: Bear MA crossover favors downside break of a rising channel

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  • The EUR/JPY is better bid at 128.78, having witnessed a falling channel breakout on the hourly chart yesterday. The cross has also charted a rising channel on the hourly chart.
  • Further gains may not materialize, as the daily moving averages are biased toward bears. For instance, the 5- and 10-day SMAs have produced bearish crossover. Meanwhile, the hourly chart is reporting a bearish crossover between the 10- and 200-hour SMAs.
  • The recent low of 127.50 could be put to test if the rising channel seen in the hourly chart is breached to the downside.

Hourly Chart


	EUR/JPY Technical Analysis: Bear MA crossover favors downside break of a rising channel

Daily Chart


	EUR/JPY Technical Analysis: Bear MA crossover favors downside break of a rising channel

EUR/JPY

Overview:
    Last Price: 128.78
    Daily change: 38 pips
    Daily change: 0.296%
    Daily Open: 128.4
Trends:
    Daily SMA20: 128.7
    Daily SMA50: 129.88
    Daily SMA100: 129.52
    Daily SMA200: 130.15
Levels:
    Daily High: 128.78
    Daily Low: 127.5
    Weekly High: 130.16
    Weekly Low: 128.6
    Monthly High: 132.49
    Monthly Low: 126.63
    Daily Fibonacci 38.2%: 128.29
    Daily Fibonacci 61.8%: 127.98
    Daily Pivot Point S1: 127.67
    Daily Pivot Point S2: 126.94
    Daily Pivot Point S3: 126.39
    Daily Pivot Point R1: 128.95
    Daily Pivot Point R2: 129.5
    Daily Pivot Point R3: 130.23

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