In an attempt to gather more profits, the EUR/JPY price has started another trading session on a positive note. Also, there are promising signs that the EUR/JPY price action may achieve its aim of capturing the 144.00 price level.
Major Price Levels:
Top Levels: 142.78, 143.78, 145.50
Floor Levels: 141.78, 140.00, 138.50
EUR/JPY Bulls May Have Found a Strong Foothold
Price activity in the EUR/JPY daily market appears to have found a strong base from which it can keep pushing upwards. The latest price candle can be seen appearing above the middle limit of the Bollinger Band indicator. Also, this price candle represents a price increase. Meanwhile, the MACD indicator lines have just delivered a bullish crossover above the 0.00 level, indicating a gain in bullish momentum. Likewise, the RSI indicator lines are also around level 50 on average and maintain an upside path. Consequently, this is predicting that the price may rise further.
EUR/JPY Price Action Is Pushing the Envelope
Price action in the EUR/JPY 4-hour market has started pushing against the upper limit of the applied Bollinger band indicator. The RSI indicator’s lines could be seen approaching the overbought zone, with its lines now at 84 and 83. Furthermore, the MACD indicator keeps showing that bullish momentum is increasing. The histogram bars of the MACD can be seen growing tall and green, while the lines keep rising upwards above the equilibrium point of 0.00. Summing up all the observed signs from the technical indicators, we can predict that the EUR/JPY price may soon arrive at the 144.00 mark.
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