EURJPY recently reversed up from the support area lying between the long-term support level 115.80 (which stopped the sharp downtrend in September) and the lower daily Bollinger Band.
The upward reversal from this support area stopped the earlier impulse wave (iii) – which belongs to the longer term impulses 3 and (3).
Given the oversold daily Stochastic – EURJPY is expected to rise further toward the next resistance level 116.50 (former support from March).
The US dollar has strengthened, reaching the upper boundary of its trading range. The British…
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- USDJPY broke key resistance level 154.70 - Likely to rise to resistance level 157.20…
- USDJPY broke key resistance level 154.70 - Likely to rise to resistance level 157.20…
- WTI crude oil reversed from the multi-year support level 66.70 - Likely to rise…
Japanese inflation is rising, with corporate goods prices inflation accelerating to 3.4% y/y in October,…
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