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EURJPY technical analysis
EURJPY pair is in a moving phase in the daily range, 119,654 is the standard pivot point value for this pair.
The lowest price in the daily range is at 118,114 which is the closest support zone at the daily timeframe. While the resistance zone is at 121,445 which is the highest price in the weekly swing.
![[Image: pivot-point.jpg]](https://i.ibb.co/wSy1hBY/pivot-point.jpg)
At H1 we see there is a bearish movement that is running and has formed a bearish candle as previously thought.
The price may penetrate the support level if the selling pressure gets higher, but it does not rule out the possibility that the price may return to the top zone.
The RSI indicator shows the level of 43.36 which is an important level of support and resistance, where the trend is still in a bearish period.
- Pivot point = 119.54
- R1 = 120,930
- R2 = 122,671
- S1 = 117,913
- S2 = 116.37
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