|EUR/JPY intraday: the downside prevails as long as 124.42 is resistance|
|Our pivot point is at 124.42.
Most likely scenario: the downside prevails as long as 124.42 is resistance.
Alternative scenario: above 124.42, look for 124.84 and 125.09.
Comment: the RSI is below its neutrality area at 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the pair is trading under both its 20 and 50 MAs (respectively at 124.24 and 124.45).