Hey Traders!
I believe EURJPY will continue going up due to the following:
- Recent bullish engulfing candlestick on 4h with MA bounce.
- Although it's near the psychological level 158, we are likely to re-test it because it's forming recent higher highs.
- The pair managed to pass 157.00 level which was a previous strong pivot level
- COT Data is in favour for this trade
- PMI for the US came out negative, which should influence EUR power after a slight pullback from JPY due to being a safe haven.
Good Luck!
I believe EURJPY will continue going up due to the following:
- Recent bullish engulfing candlestick on 4h with MA bounce.
- Although it's near the psychological level 158, we are likely to re-test it because it's forming recent higher highs.
- The pair managed to pass 157.00 level which was a previous strong pivot level
- COT Data is in favour for this trade
- PMI for the US came out negative, which should influence EUR power after a slight pullback from JPY due to being a safe haven.
Good Luck!