EURJPY near resistance zone

23 February 2021

EURJPY had ended in a long bearish “Marubozu” candlestick formation on 17th February 2021 after facing resistance in the 128.00-50 range suggesting overhead resistance, further it has ended in doji candlestick formations in the last two trading sessions suggesting rejection from higher levels. It would be prudent to say that EURJPY could decline towards 127.25 and 126.75 while it sustains below 128.50.

Prepared by
Technical Analysis Team

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