tayalsmith
Long

EUR/JPY analysis

FX:EURJPY   Euro / Japanese Yen
9 0 0
The secondary trend of EURJPY             is sideways on charts. In its 4 hourly chart, the pair is sustaining below its falling trend line . It is consolidating with strong positive bias and is likely to give break out at upside. Its 30 and 200 DMA are also supporting the upcoming bullish trend in the pair. It is facing an important resistance at the level of 135.72. If it breaks its resistance level of at upside and sustains above it then we can expect it to show further upside movement.
INDICATORS:- RSI is sustaining in buying territory supporting the upcoming bullish trend in the pair.
MACD is also sustaining in buying territory indicating the upcoming bullish trend in the pair.
STRATEGY: EURJPY             is looking bullish on charts for next few trading session. One can go for buy on dips strategy for this pair for intra day to mid term positions.
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