Connect with us

Hi, what are you looking for?

Real Investment StarReal Investment Star

Economy

Euro Index and Yen Index: Yen remains under bearish pressure

Euro Index and Yen Index: Yen remains under bearish pressure

The euro index rose to 1052.2 levels yesterday. 
The yen index has been in a bearish trend since the beginning of this week, from 735.7 levels to the current price of 723.2. 

Euro index chart analysis

The euro index rose to 1052.2 levels yesterday. We stop at that level and make a bearish impulse up to 1051.50. After that, the index starts consolidation in the 1050.50-1051.2 range. With the start of today’s EU session, the index is again under pressure and makes a daily low at the 1050.0 level. The EMA200 moving average is just below that, and we expect to gain its support and stay above it.

Potential higher targets are 1052.0 and 1052.5 levels. We need a negative consolidation and a drop to 1049.5 levels for a bearish option. Thus, we go below the EMA200, and there is an increase in bearish pressure on the euro index. Potential lower targets are 1049.0 and 1048.5 levels.

Yen index chart analysis

The yen index has been in a bearish trend since the beginning of this week, from 735.7 levels to the current price of 723.2. During this morning’s Asian trading session, we saw an attempt to hold above the 724.0 level. We didn’t succeed in that, and we started a withdrawal that continues even now. There is a good chance that we will go down to a new weekly low. Potential lower targets are 722.0 and 720.0 levels.

For a bullish option, we need a return above the 725.0 level. This brings us back to this morning’s movement zone. If we manage to hold on there, we will have a new bottom from which we could move to the bullish side. Potential higher targets are 726.0 and 728.0 levels. Additional resistance could be found in the EMA200 and the 728.0 zone.

 

The post Euro Index and Yen Index: Yen remains under bearish pressure appeared first on FinanceBrokerage.

Enter Your Information Below To Receive Latest News, And Articles.

    Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

    You May Also Like

    Editor's Pick

    ERP or Enterprise Resource Planning solutions help businesses of all sizes manage their daily business operations. First used in the 1990s, ERP systems have...

    Investing

    Democratic Gov. Janet Mills on Wednesday vetoed a bill aimed at prohibiting foreign influence in Maine elections, but voters will get the final say...

    Latest News

    There were several reasons offered in support of the congestion pricing plan that was supposed to go into effect in New York at the...

    Latest News

    House Speaker Mike Johnson (R-La.) on Wednesday appointed Reps. Scott Perry (R-Pa.) and Ronny Jackson (R-Tex.), two Trump loyalists who denied the results of...

    Disclaimer: realinvestmentstar.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.


    Copyright © 2024 realinvestmentstar.com