Looking at EURJPY in the H4 chart, the price passed through the previous resistance line which became the support line now at 130.763. Currently it’s looking to climb up to 132.432. levels, continuing its bullish trend. The mentioned 131.590 is considered as a resistance area. The price can test this level and once breached, this can go higher to 132.432.
The 5, 10, and 20 day Simple Moving Averages for the EURJPY currency pair are currently moving below the price, a clear bullish momentum. As a confirmation of this heightened bullish strength, the 5 day Simple Moving Average has recently advanced over the 10 and 20 day Simple Moving Averages.
RSI(14) in the daily chart is currently at a 56.94 level. RSI has recently bounced off overbought territory and thus the resurgence of bullish traders and investors. The current level, although considered neutral, implies that the price still has room for an upswing. It is expected that the price will continue its established upward trend.
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