Post
· Views 447
Read some news guy!! Although EUR/JPY trades in a range around 61.8% Fibonacci retracement, it keeps the overall bullish bias intact while taking rounds to 121.00 during pre-European session open on Tuesday. The pair stays above 200-hour Exponential Moving Average (EMA) while also portraying a two-day-old rising channel on the hourly chart. Also supporting the upside is bullish signals from 12-bar Moving Average Convergence and Divergence (MACD). With this, pair’s run-up to channel resistance, at 121.32, and the following increase to 121.50 seem quite acceptable. However, a downside break below 200-hour EMA level of 120.77 could recall October-end low surrounding 120.28 and could also push sellers toward 120.00 round-figure during further declines. (Source: fxstreet)

Disclaimer: The content above represents only the views of the author or guest. It does not represent any views or positions of FOLLOWME and does not mean that FOLLOWME agrees with its statement or description, nor does it constitute any investment advice. For all actions taken by visitors based on information provided by the FOLLOWME community, the community does not assume any form of liability unless otherwise expressly promised in writing.

FOLLOWME Trading Community Website: https://www.followme.com

avatar

Hot

No comment on record. Start new comment.