- The EUR/JPY is currently trading at 128.92, having closed on Friday above the falling trendline connecting the Sept. 26 high and Oct. 22 high.
- The hourly chart shows the pair has created higher lows and higher highs (bullish pattern).
- The 50-, 100-, and 200-hour exponential moving averages (EMAs) are trending north in favor of the bulls.
- The pair looks set to extend the corrective rally to 130.00. The bullish case would weaken if the pair violates the higher lows pattern with a move below the 200-hour EMA of 128.48.
Hourly Chart
Trend: Recovery rally
EUR/JPY
Overview:
Last Price: 128.94
Daily change: 3.0 pips
Daily change: 0.0233%
Daily Open: 128.91
Trends:
Daily SMA20: 128.95
Daily SMA50: 129.95
Daily SMA100: 129.45
Daily SMA200: 130.38
Levels:
Daily High: 129.34
Daily Low: 128.37
Weekly High: 129.34
Weekly Low: 127.24
Monthly High: 132.49
Monthly Low: 126.63
Daily Fibonacci 38.2%: 128.97
Daily Fibonacci 61.8%: 128.74
Daily Pivot Point S1: 128.4
Daily Pivot Point S2: 127.9
Daily Pivot Point S3: 127.43
Daily Pivot Point R1: 129.38
Daily Pivot Point R2: 129.85
Daily Pivot Point R3: 130.35