Home EUR/JPY Price Analysis: Bulls taking charge but price due for a correction
FXStreet News

EUR/JPY Price Analysis: Bulls taking charge but price due for a correction

  • EUR/JPY is in a strong uptrend and the bulls may not be about to throw in the towel just yet.  
  • EUR/JPY to take its cues from the US dollar and EUR/USD.

EUR/JPY has been climbing the stairs in a solid series of bullish impulses and significant corrections.  

The following illustrates that the price might be due for another correction prior to the next bullish impulse.  

EUR/JPY daily chart

Meanwhile, EUR/USD is worth taking note of considering the market is being driven by dollar weakness and with the Federal Reserve minutes around the corner:

Daily chart

4-hour chart

 

FX Street

FX Street

FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions.