EURJPY has been trading around the 20-day SMA since the last few trading sessions; however it has started to rise swiftly today suggesting that it might break the 126-126.75 zone on the upside. Momentum indicators are rising, supporting the above observation. It would be prudent to say that the pair could rise further towards $126.90 and $127.35 if it sustains above $126.00.
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Trading Forex or any CFD products may not be suitable to all investors and they must evaluate their risk appetite. The above article should not be construed as a trading or investment advice as it is solely for education and information purpose only. Trading might incur a loss of capital and hence investors might be required to gain further knowledge regarding the risks involved. Leverage should be used wisely.
Risk Disclaimer:
Trading Forex or any CFD products may not be suitable to all investors and they must evaluate their risk appetite. The above article should not be construed as a trading or investment advice as it is solely for education and information purpose only. Trading might incur a loss of capital and hence investors might be required to gain further knowledge regarding the risks involved. Leverage should be used wisely.