EUR/JPY currency pair ne Wednesday ko rebound experience kiya, aur 161.10 level ke aas paas trade kar rahi thi. Ye pichle haftay ki decline se reversal tha. Japanese yen weak hui jab Bank of Japan ke Deputy Governor Shinichi Uchida ne dovish remarks diye, jo central bank ke accommodative monetary policy ko maintain karne ka indication dete hain despite market instability Four-hour chart pe, overall trend bearish hai kyunki price crucial 100-period Exponential Moving Average (EMA) ke neeche trade kar rahi hai. Lekin, Relative Strength Index (RSI) apni midline ke upar move hui hai, jo near-term gains ka potential suggest karti hai. Immediate upside resistance upper Bollinger Band ke aas paas 162.18 par hai, aur dusri resistance level 162.90-163.00 region mein hai, jo psychological levels aur previous high from August 1 ke saath align karti hai
Downside pe, initial support EUR/JPY pair ke liye August 6 low of 157.30 pe milti hai. Pair ne repeatedly 168.00 level aur downward-sloping trendline ko break karne ki koshish ki hai February se, jo resistance act karti hai. Despite previous failures, EUR/JPY ne apni position is long-term trendline ke upar four consecutive days ke liye maintain rakhi hai, jo bullish breakout ka potential indicate karti hai
Technical indicators bhi oversold conditions suggest karte hain, jo upward move ka possibility support karti hai. Agar 168.17 level ke upar decisive close hoti hai, to ye extension towards 169.72 handle ko confirm karegi. Further bullish signal ke liye, pair ko 20-day aur 50-day Simple Moving Averages (SMAs) aur April high of 171.56 ke upar move karna essential hoga. Additional upside momentum 172.55 area ke aas paas capped ho sakta hai, jahan price ne mid-July mein rejection face ki thi. Agar ye level successfully breach hota hai, to ye July high of 175.41 tak path clear kar dega
Overall, EUR/JPY pair weakening Japanese yen ke against recovery ke signs show karti hai. Jab tak short-term outlook cautiously optimistic lagta hai, key resistance levels ke upar gains sustain karna overall trend determine karne mein crucial hoga
Downside pe, initial support EUR/JPY pair ke liye August 6 low of 157.30 pe milti hai. Pair ne repeatedly 168.00 level aur downward-sloping trendline ko break karne ki koshish ki hai February se, jo resistance act karti hai. Despite previous failures, EUR/JPY ne apni position is long-term trendline ke upar four consecutive days ke liye maintain rakhi hai, jo bullish breakout ka potential indicate karti hai
Technical indicators bhi oversold conditions suggest karte hain, jo upward move ka possibility support karti hai. Agar 168.17 level ke upar decisive close hoti hai, to ye extension towards 169.72 handle ko confirm karegi. Further bullish signal ke liye, pair ko 20-day aur 50-day Simple Moving Averages (SMAs) aur April high of 171.56 ke upar move karna essential hoga. Additional upside momentum 172.55 area ke aas paas capped ho sakta hai, jahan price ne mid-July mein rejection face ki thi. Agar ye level successfully breach hota hai, to ye July high of 175.41 tak path clear kar dega
Overall, EUR/JPY pair weakening Japanese yen ke against recovery ke signs show karti hai. Jab tak short-term outlook cautiously optimistic lagta hai, key resistance levels ke upar gains sustain karna overall trend determine karne mein crucial hoga
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