EUR/JPY: Our expectations are for continued upward movement. All technical factors indicate that the trend continues. Possible long and stop loss at 129.77
Alternative scenario: Only a price change below the previous floor may signal a possible correction, so the long is more likely then.
Comments: Upward average movement: price over 100 EMA, price over 20 EMA
Break up the upward triangle
CCI50 over 0 and pointing up, RSI over 50
The price has passed over 20 EMAs at the moment when RSI is pushed by a 50 - strong bullish signal
Break the inside bar upwards
The euro remains strong, pending the suspension of the ECB's quantitative easing programs.
Stefan D. Angelov - Head of Stocks Trading
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