EUR/JPY tests trend line hurdle as anticipated, What’s next?

FX:EURJPY   Euro / Japanese Yen
  • EUR/JPY ran into trend line hurdle at 125.40, extending gains on the back of a bullish price-RSI divergence as anticipated.
  • Bullish move could continue if we see a day end close today above 125.40, above which falling trend line hurdle at 126.70 stands exposed. Daily RSI has just turned bullish , thus adding to the possibility of further gains.
  • Short-term bullish invalidation is seen only if prices suffer day end closing below 124.44.
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