Over time, EUR/JPY has kept on gathering moderate but consistent profits. At this point, this market has risen past the $143,000 price mark and is now heading towards more elevated price levels. Let’s zoom in on price activity in this market to gain more insight into what may soon happen.
Major Price Levels:
Top Levels: 143.79, 144.00, and 145.00
Floor Levels: 143.00, 142.50, and 142.00
EUR/JPY Price Action Could Reach 144.00
The EUR/JPY daily market price action appears to be so determined to keep moving higher, even when it appears to lack the strength to do so. This has resulted in the appearance of dashed price candles since the past trading session. The MACD curves are still moving upwards and seem to foretell that prices may keep rising in this session, through its bars. Also, the RSI indicator lines seem a bit mangled due to the state of the market; however, they have given a sign that the price will gain additional upside momentum. This could be observed as the lines of the Stochastic RSI have performed a bullish crossover.
The EUR/JPY Price Stays in Pursuit of the 144.30 Level
Even on the 4-hour market, price action keeps moving higher. Another dashed-shaped candle has appeared above the middle limit of the Bollinger Bands on this chart, keeping the price at 143.79. Also, the MACD indicator maintains its upside trajectory after it has aborted a bearish reversal move. It can as well be perceived that the bars of the MACD indicator have now regained their vivid green appearance. Consequently, this indicates that price action has started picking up some upside momentum. The leading line of the applied RSI indicator is now beginning to turn towards the lagging line for a bullish crossover. Therefore, traders can anticipate that price action in the EUR/JPY may eventually claim the 144.30 mark.
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