FX.co ★ Technical Analysis of Intraday Price Movement of EUR/JPY Cross Currency Pairs,Thursday February 29 2024.

If we pay attention on the 15 minutes chart from EUR/JPY cross currency pairs, the price movement seems moving weaken and under WMA 30 Shift 2, which is also has the downward slope which means Seller is dominating since the opening of Asia session Today. However, with the oversold level of the Stochastic Oscillator indicator being broken and now it is above level 20, there is a fairly large opportunity for an upward correction to level 162.70 when the London market opens, but as long as the upward correction does not break above level 163.35, EUR/JPY will back down to test level 161.89 as the main target and level 161.42 as the next target if the momentum and volatility are supportive enough.

(Disclaimer)