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Bullish Trend May Continue – Cryptovibes.com – Daily Cryptocurrency and FX News

Bullish Trend May Continue – Cryptovibes.com – Daily Cryptocurrency and FX News


EURJPY Price Analysis – October 15

When the bulls’ pressure increase, the price may penetrate the $132 level and increase to $133 which may extend to $134 price level. In case the resistance level of $132 holds, price may reverse and face the support levels at $131, $130 and $129.

EURJPY Market

Key Levels:

Resistance levels: $132, $133, $134

Support levels: $131, $130, $129

EURJPY Long-term Trend: Bullish

EURJPY is bullish on the long-term outlook. The bulls holds unto the EURJPY market. The currency pair has being under the control of the buyers for more than two weeks. The price is increasing as the buyers’ pressure increases. The bullish momentum pushes the pair to the support level of $132 today after it penetrated the former resistance levels of $130, $131 and $132 upside.

EURJPY has crossed the two EMAs upside, which means that the price is on the bullish trend. The price is trading above the fast moving average (9 day EMA) and the slow moving average (21 day EMA). When the bulls’ pressure increase, the price may penetrate the $132 level and increase to $133 which may extend to $134 price level. In case the resistance level of $132 holds, price may reverse and face the support levels at $131, $130 and $129. However, the relative strength index period 14 is at 70 levels pointing up which indicate buy signal.

EURJPY medium-term Trend: Bullish

EURJPY is bullish on the 4-hour chart. Last week, EURJPY increases and found resistance at $131 zone, this was on October 07. The price could not penetrate the mentioned level, may be due to weak bullish momentum. This led to price consolidation at $131 zone for two days. The bulls were able to gather more pressure on October 13 and there was a bullish breakup.

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 above 80 levels with the signal line pointing up to indicate buy signal.



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