- The EUR/JPY pair has found acceptance below the 50-hour, 100-hour, and 200-hour exponential moving averages (EMAs), having established lower highs and lower lows pattern on the hourly chart in the last seven days.
- The hourly relative strength index (RSI) has dipped below 50.00 in favor of the bears and is pointing south. Further, the 5-day and 10-day EMAs are beginning to roll over in favor of the bears.
Hourly Chart
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Spot Rate: 131.60
Daily High: 132.00
Daily Low: 131.60
Trend: Bearish
R1: 131.90 (Sept. 24 low)
R2: 132.21 (trendline hurdle)
R3: 132.46 (resistance of Oct. 1 high on the hourly chart)
Support
S1: 131.18 (Sept. 28 low)
S2: 130.87 (Aug. 30 high)
S3: 130.00 (100-day MA)
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