EURJPY :Returning to upward momentum?
EURJPY has been in a prolonged uptrend since the beginning of the year, hitting a new 15-year high of 159.75 on August 31. Since then, the price has traded without clear direction around the 158 level, 00, while short-term oscillators are reflecting a neutral to positive short-term trend.
If buying interest increases, bulls could attempt to retest the recent 15-year high of 159.75. Above that zone, the pair could reach new multi-year highs, where the 161.38 peak in February 2008 could limit further advances. If not stopped there, the price could rise to challenge the April 2008 high of 164.97.
If buying interest increases, bulls could attempt to retest the recent 15-year high of 159.75. Above that zone, the pair could reach new multi-year highs, where the 161.38 peak in February 2008 could limit further advances. If not stopped there, the price could rise to challenge the April 2008 high of 164.97.
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