EURJPY Price Penetrates $130 Level, Targeting $131 – Cryptovibes.com – Daily Cryptocurrency and FX News

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EURJPY Price Analysis – September 03

Further increase in EURJPY price envisaged and this will push it to test $131 level and may increase further to $132 and $133 levels. In case the resistance level of $131 hold the price, it may reverse and face the support levels at $130, $129 and $128.

EURJPY Market

Key Levels:

Resistance levels: $131, $132, $133

Support levels: $130, $129, 128

EURJPY Long-term Trend: Bullish

EURJPY is bullish on the long-term outlook. The bulls took over the market from the bears when the price bottomed at the support level of $128 on August 19. An inside bar candle pattern formed at the same level and the price increases. The former resistance levels of $129 and $130 is broken upside. More bullish candles were produce and the price is currently expose to the resistance level of $131.

 

EURJPY retains its position above the two EMAs, meaning that the price is trading above the fast moving average (9 day EMA) and the slow moving average (21 day EMA). Further increase in EURJPY price envisaged and this will push it to test $131 level and may increase further to $132 and $133 levels. In case the resistance level of $131 hold the price, it may reverse and face the support levels at $130, $129 and $128. The relative strength index period 14 is above 60 levels pointing up which indicate strong buy signal.

EURJPY medium-term Trend: Bullish

EURJPY is bullish on the 4-hour chart. The price closed below the resistance level of $129 last week. The buyers further increase their momentum and penetrate the resistance levels of $19 and $130. The price is currently increasing towards the resistance level of $131.

EURJPY is trading above the 9 periods EMA and 21 periods EMA as an indication of bullish trend. The relative strength index period 14 is at 80 levels with the signal line pointing up to indicate a buy signal.

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