HFM information and reviews
HFM
96%
Octa information and reviews
Octa
94%
FXCC information and reviews
FXCC
92%
FxPro information and reviews
FxPro
89%
FBS information and reviews
FBS
88%
Vantage information and reviews
Vantage
85%

EURJPY flirts with 29-month high in ascending move


18 March 2021

EURJPY is looking strongly bullish in the short-term after surging above its four-hour moving averages. Prices hit a 29-month high of 130.65 and the technical indicators are all pointing to further positive momentum in the near term. The RSI is pointing upwards in the positive region, while the MACD is advancing above its trigger line.

Immediate resistance to further gains would likely come from the 29-month high of 130.65, which was created earlier today. If there is a successful break above this area, further resistances could be met around 133.10, registered in September 2018.

If, however, the strong upside momentum was to lose steam and the pair reverses lower, support would initially come from the 20- and 40-period SMA at 130.10 and 129.90, respectively. Slipping below these levels, the ascending trend line could come in focus around 129.75, while a break of the line could hit the 129.50 support. Slightly below this barrier, the 23.6% Fibonacci retracement level of the up leg from 125.07 to 130.65 at 129.30 could halt bearish movements.

In the medium-term picture, the bullish outlook remains intact, though a penetration of the uptrend line could switch the bias to neutral.

#source

Share: Tweet this or Share on Facebook


Related

EURJPY Re-Enters Bullish Channel, Supported by 200-Day SMA
EURJPY Re-Enters Bullish Channel, Supported by 200-Day SMA

EURJPY has staged a comeback following a period of weakness during which it temporarily fell below its established bullish channel, originating in June. The resurgence is primarily attributed to the pair's...

23 Jan 2024

Crucial Upside Barrier at 160.00 Mark in Focus Amid Geopolitical Tensions
Crucial Upside Barrier at 160.00 Mark in Focus Amid Geopolitical Tensions

The EUR/JPY currency pair finds itself under pressure during the early European session on Friday as geopolitical tensions in the Middle East weigh on market sentiment...

12 Jan 2024

EURJPY's Ascending Trajectory: Balancing Highs with Emerging Risks
EURJPY's Ascending Trajectory: Balancing Highs with Emerging Risks

As the EURJPY pairing continues its impressive ascent, reaching levels not seen since August 2008, investors and traders alike are met with a mix of enthusiasm and caution...

14 Nov 2023

Japanese Economic Outlook: Anticipating Impact of GDP and BoJ Decisions on Market Dynamics
Japanese Economic Outlook: Anticipating Impact of GDP and BoJ Decisions on Market Dynamics

As global financial markets gear up for the upcoming release of Japan's Q3 GDP report on Wednesday at 01.50 GMT, expectations and speculation are high...

13 Nov 2023

EURJPY Analysis: BoJ's Dovish Tone Sparks Momentum, Yet Resistance Looms
EURJPY Analysis: BoJ's Dovish Tone Sparks Momentum, Yet Resistance Looms

The EURJPY currency pair has emerged as a focal point in the forex market, following recent developments from the Bank of Japan (BoJ) and the subsequent shifts in the technical landscape...

1 Nov 2023

Navigating Euro Fluctuations Amidst the Yen's Uncertain Strength
Navigating Euro Fluctuations Amidst the Yen's Uncertain Strength

The international currency landscape is undergoing a subtle yet significant transformation, as evidenced by recent movements in the US Dollar and the ensuing repercussions on the EURJPY pair...

6 Oct 2023


MultiBank Group information and reviews
MultiBank Group
84%
XM information and reviews
XM
82%
FP Markets information and reviews
FP Markets
81%
FXTM information and reviews
FXTM
80%
AMarkets information and reviews
AMarkets
79%
BlackBull information and reviews
BlackBull
78%

© 2006-2024 Forex-Ratings.com

The usage of this website constitutes acceptance of the following legal information.
Any contracts of financial instruments offered to conclude bear high risks and may result in the full loss of the deposited funds. Prior to making transactions one should get acquainted with the risks to which they relate. All the information featured on the website (reviews, brokers' news, comments, analysis, quotes, forecasts or other information materials provided by Forex Ratings, as well as information provided by the partners), including graphical information about the forex companies, brokers and dealing desks, is intended solely for informational purposes, is not a means of advertising them, and doesn't imply direct instructions for investing. Forex Ratings shall not be liable for any loss, including unlimited loss of funds, which may arise directly or indirectly from the usage of this information. The editorial staff of the website does not bear any responsibility whatsoever for the content of the comments or reviews made by the site users about the forex companies. The entire responsibility for the contents rests with the commentators. Reprint of the materials is available only with the permission of the editorial staff.
We use cookies to improve your experience and to make your stay with us more comfortable. By using Forex-Ratings.com website you agree to the cookies policy.