InvestMate 💶 EUR/JPY Will Decline? 💶

💶 EUR/JPY Will Decline?

💶 Nearest strong support zone: around the fibo level 0.236 of the downward wave.

💶 Nearest strong resistance zone: around the fibo level of 0.382 of the downward wave.

💶 Technical environment:

📊 Moving averages: Downtrend

📊 MACD: Downtrend

📊 RSI: Downtrend

💶 Price action: EUR/JPY Attacked an important support zone today which has already played a key role in stopping declines on a number of previous times. The rapid strengthening of the Japanese Yen was due to the change of the Central Bank of Japan chairman. Which decision the market saw as pro-growth for the Japanese Yen. Looking at the formation, I expect the declines to continue in the coming weeks. Especially looking at the challenges and future decisions facing the BOJ due to rising inflation and no change in monetary policy.

📉 The scenario I am playing out is a continuation of declines. I do not exclude changing the scenario in case of a sudden change in the market situation. I am aware of the possibility of a correction at any time, this should be taken into account, If the outlook changes I will publish a post with an update, so I encourage you to actively follow the profile and carefully read the description.

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