- The EUR/JPY is currently trading at 128.80 and could rise to well above 129.00 as the 15-minute chart is showing a falling wedge breakout – a bullish continuation pattern – which indicates a resumption of the rally from the low of 128.08.
- On the 4-hour chart, the JPY cross is trapped in a symmetrical triangle, which could be breached on the higher side, courtesy of the bullish continuation pattern on the hourly time frame.
- The prospects of bull breakout on the 4-hour, however, would weaken if the cross finds acceptance below 128.23, confirming a downside break of the symmetrical triangle.
15-minute Chart
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4-Hour Chart
-636784440012237522.png)
Trend: Bullish
EUR/JPY
Overview:
Last Price: 128.79
Daily change: 6.0 pips
Daily change: 0.0466%
Daily Open: 128.73
Trends:
Daily SMA20: 128.59
Daily SMA50: 129.82
Daily SMA100: 129.52
Daily SMA200: 129.98
Levels:
Daily High: 129.1
Daily Low: 128.1
Weekly High: 129.24
Weekly Low: 127.5
Monthly High: 132.49
Monthly Low: 126.63
Daily Fibonacci 38.2%: 128.72
Daily Fibonacci 61.8%: 128.48
Daily Pivot Point S1: 128.18
Daily Pivot Point S2: 127.64
Daily Pivot Point S3: 127.18
Daily Pivot Point R1: 129.19
Daily Pivot Point R2: 129.65
Daily Pivot Point R3: 130.19
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