- During the Asian trading session, the Euro Index is facing resistance at the level of 1036.7.
- On Friday, the yen index fell to the support level of 752.2.
Analysis of the Euro index chart
During the Asian trading session, the Euro Index is facing resistance at the level of 1036.7. After holding above 1036.0 levels, a strong bearish impulse occurred at the beginning of the EU session, taking us to 1033.8 levels. Additional pressure is exerted by the 200 moving average, which is now located on the downside. This may influence us to see a deeper decline in the Euro index. Possible lower targets are 1033.0 and 1032.0 levels.
If the index consolidates and stops this decline, it may start to recover and return above the 1035.0 level. It will receive support again from the EMA200 moving average, improving the euro's picture of growth to previous higher levels. Possible higher targets are 1036.0 and 1037.0 levels. Moving the Euro Index above 1037.00 means that we will break out of the previous two-week support area.
Yen indicator chart analysis
On Friday, the yen index fell to the support level of 752.2. After the examination, we were able to find support and start the recovery during the previous Asian trading session. Positive consolidation has taken us to the 755.2 level, and we expect to see continued growth by the end of the day while still rising. Possible higher targets are 756.0 and 757.0 levels.
We will have additional pressure on the EMA200 moving average in the area of 757.0 levels. We need negative consolidation and a pullback below 754.0 for a bearish option. Therefore, we may form a lower high and once again face the support area this morning. Possible lower targets are 753.0 and 752.0 levels.
