Resumption of the Aug-Oct uptrend?
EUR / JPY :
In the short term (14-25 days) the YEN could weaken against the EURO. Price action on the daily chart indicates that the EUR/JPY outlook could be bullish despite the recent pullback. Current price is above its 200 day and 20 day moving averages (bullish); MACD above its signal line (bullish); relative strength index has crossed above its 50 line (bullish); therefore from a technically perspective the prospects for a resumption of the August - October bull trend could be on the table for potential upside targets at 146.73 and 148.4 in the short term (14-25 days) provided price can remain above the 140.77 key support.
Not investment advice. Past performance is not indicative of future results.
In the short term (14-25 days) the YEN could weaken against the EURO. Price action on the daily chart indicates that the EUR/JPY outlook could be bullish despite the recent pullback. Current price is above its 200 day and 20 day moving averages (bullish); MACD above its signal line (bullish); relative strength index has crossed above its 50 line (bullish); therefore from a technically perspective the prospects for a resumption of the August - October bull trend could be on the table for potential upside targets at 146.73 and 148.4 in the short term (14-25 days) provided price can remain above the 140.77 key support.
Not investment advice. Past performance is not indicative of future results.
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