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Technical Analysis: EURJPY (09.03.2023)

7:06 PM 9 March 2023

EURJPY pair has been moving in an uptrend in recent weeks. Looking at the H4 interval, the downward correction has reached an interesting support area. The zone marked in green at 143.55 is marked with previous price reactions, the lower limit of the local 1:1 structure and the EMA100. If buyers manage to keep the price above it, then uptrend may resume. Otherwise, a break below could pave the way towards the next support at 142.35, which is marked with broader 1:1 geometry denoted by the green rectangle.

Source: xStation

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