- EUR/JPY remains on course for a significant correction.
- The bulls are looking for a break of the 21-EMA on the daily charts.
As per the prior analysis, EUR/JPY Price Analysis: Bulls take charge, eye 61.8% Fibo target, the bulls remain in charge and on the move towards the said target area.
Prior analysis, daily chart
”The bulls can target the 61.8% Fibonacci retracement level and the M-formation’s neckline.”
15-min chart, prior analysis
”From an hourly perspective, there is a strong bullish case given the prior bullish impulse, correction and now the current spike into the prior highs and presumed resistance.
A break of the resistance structure will align with the daily bullish M-formation’s target keeping it firmly on the map.”
Live market update
The daily trajectory is still in shape and the bulls remain in control at this juncture.
A break of the 21-EMA on the same time frame will be highly bullish.
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