The EUR/JPY pair has risen above the additional support level of 128.55 in an attempt to strengthen the bullish attack and consolidate near 129.40, with stochastic attempting to crawl to overbought areas to increase the chances of breaching the 129.80 barrier to make it easier to record the positive targets of 130.45 and 130.85.
The support rests at 129.15 with resistance at 129.33 which the Pivot Point at 129.22 is located below the price line. The EMA of 10 is moving in bullish bias in the ascendant channel and it is below the EMA of 100 and the EMA of 200 which both are moving horizontally. The RSI is moving in high ranges as well as the Stochastic. The MACD histogram is in positive territory with upward signals. The ADX is not showing a clear signal.
The price is above the Ichimoku Cloud and the Chinkou Span is moving far away the market price. Both Tenkan-sen and Kijun-sen are both showing an uptrend.
• There is resistance at 129.33, followed by resistance at 129.40 and 129.51.
• There is support at 129.15 Below, there is 129.04 and 128.97.
Note: We do not suggest any investment advice, and these analyses are just to increase the traders’ awareness but not a certain instruction for trading.
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