EURJPY Technical Analysis Report 6 December, 2024
The EURJPY pair has shown some interesting movements in recent trading sessions. On December 6, 2024, the pair was trading at a key support level of 130.50. This level has been holding strong, providing some stability for the pair.
The RSI indicator is currently showing a neutral reading, suggesting that there is no strong bullish or bearish momentum in the market. However, traders should keep an eye on any potential breakouts above or below this key support level.
In terms of resistance levels, the pair is facing some hurdles around the 131.00 mark. If the pair manages to break above this level, we could see a potential rally towards the 131.50 level.
On the downside, if the pair fails to hold above the 130.50 support level, we could see a retest of the 130.00 level. A break below this level could open the door for further downside towards the 129.50 level.
Overall, the EURJPY pair is currently consolidating around the key support level of 130.50. Traders should be cautious and wait for a clear breakout above or below this level before taking any significant positions in the market.