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EUR/JPY Short Term: the downside prevails as long as 165.08 is resistance

Feb 4, 2025 10:19 AM
the downside prevails as long as 165.08 is resistance.
image
Our pivot point is at 165.08.
Our preference:
the downside prevails as long as 165.08 is resistance.
Alternative scenario:
the upside breakout of 165.08, would call for 170.71 and 174.06.
Comment:
the RSI is below 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 161.98 and 161.83).
Supports and resistances:
174.06 **
170.71 *
165.08 **
162.87
160.61 last
152.54
149.22 **
145.90 *
142.58 **
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EUR/JPY
159.115
1.132
+0.72%