For more than four trading sessions, EUR/JPY price actions have stayed above a broken resistance level at 143.65. At this point, it appears that price action may move even higher. Technical indicators are also pointing out that price action may gain more upside traction as trading activity continues.
Major Price Levels:
Top Levels: 144.50, 145.00, and 145.50
Floor Levels: 144.34, 144.00, and 143.50
EURJPY Seems on Track Toward the 145.00 Price Level
The EURJPY price action on the daily market stays well-positioned to keep gaining more upside traction. Although the last price candle on this market looks bearish, it could be seen that it stays significantly above the 9-day Exponential Moving Average line. Likewise, the Moving Average Convergence Divergence Indicator lines are still rising above the equilibrium level of 0.00. Combining the mentioned signs, it could be perceived that bulls are still in the fight. Furthermore, the Stochastic Relative Strength Index (SRSI) indicator lines have just performed an upside crossover. Also, the RSI crossover has occurred above the 80 mark of the indicator. Consequently, this suggests that the EURJPY price may still rise.
EURJPY Upside Promise Looks Fragile
On the 4-hour market, price action seems more unstable of late. Here it can be seen that the price candlesticks have been reduced to dashes. And, the last green dashed price candle remains below the 9-day EMA curve. However, it should be noticed that the current price candle stays above the support at 143.65. The MACD indicator curves have performed a crossover above the 0.00 equilibrium level. Also, the SRSI curves can be observed running towards the oversold area. Given the erratic behavior of price action on this front, traders might still want to hold on to the signs on the daily chat, anticipating that the price may soon hit the 145.50 mark.
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