Lihat juga
29.11.2023 06:20 PMThe EUR/JPY pair is trading in the red at 161.72 at the time of writing and it seems very heavy in the short term. The bias remains bearish, so more declines are expected. Still, a downside needs confirmation.
Fundamentally, the German Prelim CPI reported a 0.4% drop, more compared to the 0.1% drop expected, while Spanish Flash CPI rose by 3.2%, less compared to the 3.6% growth estimated.
Tomorrow, Japan is to release Housing Starts, Consumer Confidence, Retail Sales, and Prelim Industrial Production data. On the other hand, the Eurozone CPI Flash Estimated, Core CPI Flash Estimate, German Unemployment Change, and German Retail Sales figures.
Technically, the rate developed a new leg down after escaping from the up channel pattern. It has found temporary support on 161.52 and it has turned to the upside to retest the 162.17 static resistance (support turned into resistance).
Now, it challenges the 161.52 former low which represents a static support. Its failure to test and retest the downtrend line signaled strong downside pressure.
A bearish closure below 161.52 activates more declines. This is seen as a new selling opportunity.
Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.
If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.
Why does your IP address show your location as the USA?
Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaTrade anyway.
We are sorry for any inconvenience caused by this message.
