EURJPY has been trading in a higher top higher bottom formation suggesting the trend to be bullish in the near term, in the near term the pair stands at the 23.6% retracement of the rise experienced since 24th March to 29th April suggesting rebound in the offing. Positive slope of the 20-day SMA supports the above observation and a rise could be seen in the near term. It is likely that EURJPY could rise towards 131.75 and 132.20 while it sustains below 130.90.
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Trading Forex or any CFD products may not be suitable to all investors and they must evaluate their risk appetite. The above article should not be construed as a trading or investment advice as it is solely for education and information purpose only. Trading might incur a loss of capital and hence investors might be required to gain further knowledge regarding the risks involved. Leverage should be used wisely.
Risk Disclaimer:
Trading Forex or any CFD products may not be suitable to all investors and they must evaluate their risk appetite. The above article should not be construed as a trading or investment advice as it is solely for education and information purpose only. Trading might incur a loss of capital and hence investors might be required to gain further knowledge regarding the risks involved. Leverage should be used wisely.