EUR/JPY intraday: the downside prevails as long as 128.06 is resistance

EUR/JPY intraday: the downside prevails as long as 128.06 is resistance
128.06 is our pivot point.

Most likely scenario: the downside prevails as long as 128.06 is resistance.

Alternative scenario: above 128.06, look for 128.34 and 128.51.

Comment: the RSI is below 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the pair stands below its 20 and 50 MAs (respectively at 127.90 and 127.88).

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