EURJPY price action has earlier witnessed headwinds when it surged above 149.00 to reach the 151.00 price mark. Since then, price action has retreated below the 149.00 price level and then further to around the 147.00 mark. As of now, price action in this market has started what seems like an upside retracement toward the 149.00 level once more.
Major Price Levels:
Resistance Levels: 148.61, 149.00, and 149.50
Support Levels: 148.00, 147.50, and 147.00
EURJPY Targets the 149.00 Price Mark
Price action in the EURJPY daily market is now inches away from reclaiming the 149.00 price mark. Additionally, trading indicators are showing positive indications of price action in this market, surpassing the aforementioned price threshold. Two price candles from two trading sessions ago have appeared above the 9-day Moving Average curve on this chart. This happened after price action crossed over the line three trading sessions ago. Furthermore, the lines of the Moving Average Convergence and Divergence indicators are approaching a crossover above the equilibrium level. Consequently, this points to a possible additional price increase should buying pressure increase a bit further.
EURJPY Stays in Pursuit of the 149.00 Price Mark
On the 4-hour market, the price action in the EURJPY market stays focused on breaking the resistance level at 149.00. The last price candle here is a long green one, and it somewhat sits on the 9-day MA curve. Also, the lines of the MACD indicator have just crossed the 0.00 level to the upside in this time frame. In addition, although the histogram bars for this market have been appearing on the positive side, they had previously turned pale green to indicate a subsiding tailwind. However, recently it has regained its solid green appearance above the equilibrium level. Therefore, this seems to suggest that price action may be heading towards the 149.50 price mark.
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