EURJPY Technical Analysis

Technical Analysis of EURJPY: Strong Bullish

Strong Bullish
121.600, 125.100, 127.100, 129.300, 133.000 Price close above 129.300 level, expected to rise further. Price managed to break 129.300 level and close above the level after retest last week. The opening price for this week spotted below 129.300. This indicates, there are possibilities for the price to drop to 127.100 then continue to rise. We will be looking for bullish price action pattern around 127.100 or 129.300 level in order to go long after the bounce on the weekly chart. The stop loss will be below the monthly support 121.600 level and looking forward to the next possible profit target at 133.000.

EURJPY Technical Analysis
DISCLAIMER: The publication of market analysis is a marketing communication and does not constitute investment recommendations. This content provides a general views of our experts and does not consider the individual circumstances, investment experience or current financial situation. AximTrade is not liable for any losses incurred due to the use of analysis.
Trading leveraged products such as Forex and CFDs may not be suitable for all investors as they carry a high degree of risk to your capital. Please ensure that you fully understand the risks involved, taking into account your investments objectives and level of experience, before trading, and if necessary, seek independent advice. 

Learn more about forex analysis and start trading

Forex technical analysis is the most popular method used by traders to analyze the financial markets. The main benefit of learning forex analysis is to identify the relationships between price/volume and market indicators such as the moving average and MACD, etc.

AximTrade is a fast-growing brokerage service provider in the global markets with a highly advanced CopyTrade platform that always all types of traders to enter the market. Learn how to open forex account with easy few steps and join the financial markets now! The Award-Winning forex broker provides a highly efficient trading environment to enable forex traders with easy-to-use technology, fast payment methods, educational resources, market analysis, varieties of forex bonus promotions, and a highly competitive trading environment with the best trading conditions.

free online forex course