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EURJPY approaching support, potential rise!

Oleh Tickmill
Broker
EURJPY is approaching our intermediate resistance at 133.42 (horizontal swing high resistance, 100% Fibonacci extension). A breakout above this level might cause a strong rally to occur, pushing price up to our major resistance at 134.19 (horizontal overlap resistance). Ichimoku cloud is also showing signs of bullish pressure, in line with our bullish bias.
RSI (55) is also approaching our major support and a bounce off this level might be a good precursor for a potential rise in price.
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Chart PatternsEUREURJPYeurjpylongeurjpyshortForexforexsignalsforextradingHarmonic PatternsjpyTrend Analysis
Tickmill
Broker
This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results
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