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EURJPY Price Finds Support at $128.2 Level, Bullish Trend May Commence – Cryptovibes.com – Daily Cryptocurrency and FX News

EURJPY Price Finds Support at $128.2 Level, Bullish Trend May Commence – Cryptovibes.com – Daily Cryptocurrency and FX News


 EURJPY Price Analysis – August 27

EURJPY may increase further to break up $129.5 level which may test the $130.9 and $132.0 levels. In case the resistance level of $129.5 withstand the price, it may penetrate $129.1 level downside and $128.2 and $127.3 support levels may be reached.

EURJPY Market

Key Levels:

Resistance levels: $129.5, $130.9, $132.0

Support levels: $129.1, 128.2, $127.3

EURJPY Long-term Trend: Bullish

EURJPY is bullish on the long-term outlook. The bears have been dominating the EURJPY market for more than three weeks. On August 19, the currency pair found support at $128 zone. A rail road track candle pattern formed; this is a bullish reversal candle pattern. The price obeyed the command of the bulls and increases to break up $129.1 level. Yesterday, $129.5 level was tested and the price pulls back.

EURJPY Daily chart, August 27

EURJPY has crossed the two EMAs upside and the price is trading above the fast moving average (9 day EMA) and the slow moving average (21 day EMA). EURJPY may increase further to break up $129.5 level which may test the $130.9 and $132.0 levels. In case the resistance level of $129.5 withstand the price, it may penetrate $129.1 level downside and $128.2 and $127.3 support levels may be reached. The relative strength index period 14 is at 50 levels pointing up which indicate buy signal.

EURJPY medium-term Trend: Bullish

EURJPY is bullish on the 4-hour chart. The bearish momentum drop EURJPY at $128.3 support level on August 19. It consolidate for short period of time. The bulls gain more pressure and push the price towards $130 level.

EURJPY 4-hour chart, August 27

The price is trading above the 9 periods EMA and 21 periods EMA. The relative strength index period 14 is at 60 levels with the signal line pointing up to indicate a buy signal.



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