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EURJPY Price May Resume Bullish Trend as Price Penetrates Dynamic Resistance – Cryptovibes.com – Daily Cryptocurrency and FX News

EURJPY Price May Resume Bullish Trend as Price Penetrates Dynamic Resistance – Cryptovibes.com – Daily Cryptocurrency and FX News


EURJPY Price Analysis – September 17

A Further increase in bulls’ pressure will increase the price to $130 which may extend to $131 and $132. When the resistance level of $130 holds, price may reverse and face the support levels at $129, $128 and $127.

EURJPY Market

Key Levels:

Resistance levels: $130, $131, $132

Support levels: $129, $128, $127

EURJPY Long-term Trend: Bearish

EURJPY is bearish on the long-term outlook. The buyers picked up the price at the support level of $128 on August 20. Price increased and opposed at $130 levels. The sellers opposed the price at $130 level and were having their good time on the EURJPY market for more than seven days. It seems the bears’ pressure is getting weak as the bulls dominates the market today.

EURJPY daily chart, September 17

EURJPY is trying to cross the two EMAs upside, which means that the price may commence bullish trend soon. The price is trading between the fast moving average (9 day EMA) and the slow moving average (21 day EMA). A Further increase in bulls’ pressure will increase the price to $130 which may extend to $131 and $132. When the resistance level of $130 holds, price may reverse and face the support levels at $129, $128 and $127. The relative strength index period 14 is above 50 levels pointing up which indicate buy signal.

EURJPY medium-term Trend: Bearish

EURJPY is bullish on the 4-hour chart. EURJPY found support at $128 zone after many days of bearish movement which commenced at $130 resistance level on September 08. The price has been displaying lower highs lower lows movement since the commencement of the bearish movement. The currency pair changed direction to bullish on September 16. It is targeting the resistance level of $129.

EURJPY 4 hour chart, September 17

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 50 levels with the signal line pointing up to indicate buy signal.



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