The primary trend of EUR/JPY is bearish on charts, however price is taking support from daily levels. In its hourly chart, the pair is sustaining below the trend line and price is sustaining at higher levels. Price is sustaining below 200 day SMA and above 50 day SMA indicating the slightly bullish trend in the pair. It is having an important resistance at the level of 132.90 and support at the level of 131.85. If it breaks its resistance level on the upside and sustains above it then we can expect it to show further bullish movement in the pair.
INDICATORS:-
MACD is sustaining in its postive territory supporting the upcoming bearish trend in the pair.
RSI is also sustaining in its buying zone indicating the upcoming bullish trend in the pair.
STRATEGY: EUR/JPY is looking bullish on charts for next few trading session. One can go for buy on lower level strategy for this pair for intra day to mid term positions.
INDICATORS:-
MACD is sustaining in its postive territory supporting the upcoming bearish trend in the pair.
RSI is also sustaining in its buying zone indicating the upcoming bullish trend in the pair.
STRATEGY: EUR/JPY is looking bullish on charts for next few trading session. One can go for buy on lower level strategy for this pair for intra day to mid term positions.