See also
03.06.2025 08:23 AM
If we look at the 4-hour chart of the EUR/JPY cross currency pair which moving below the WMA (21), which also has a decreasing slope and the appearance of Convergence between the EUR/JPY price movement and the Stochastic Oscillator indicator, then in the near future EUR/JPY has the potential to weaken down where the level of 162.79 will be tested to be broken and close below that level. If successful, EUR/JPY will continue to weaken to the level of 162.56 as its main target and 162.25 as the next target, but if on its way to the target levels, EUR/JPY suddenly strengthens again to penetrate and close above the level of 163.93, then all the weakening scenarios that have been described previously will be invalid and automatically canceled by themselves.
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*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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