EURJPY continues higher.

In recent analysis on EURJPY we noted that we turn bullish as the RSI is right on its support trend line and that price has more chances of turning higher than continuing lower. Price is moving higher from our bullish call at 129.34 and it is now at 129.82

Red line -resistance

Blue line- bullish divergence

Green line -expected path

EURJPY is moving higher as expected. Price is approaching the key resistance trend line at 130. Breaking above 130 would be a bullish sign. The bullish RSI divergence has already warned traders of a probable trend reversal and that is another reason why we turned bullish at 129.35. Our view remains bullish as long as we trade above 128.75 as we believe the risk reward ratio favors the bullish scenario.

The material has been provided by InstaForex Company – www.instaforex.com

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MOKAR

Author: MOKAR

Mula berdagang dalam pasaran forex sejak tahun 2003. Manakala pasaran bursa saham tempatan dan global pada tahun 2018. Menjadikan trading online sebagai kerjaya sepenuh masa pada tahun 2019. Kerjaya sebelum ini adalah seorang salesman kereta. Berpengalaman dengan pelbagai teknik dan perguruan tetapi akhirnya sangat serasi dengan teknik FMCBR @ Fibo Musang melalui guruku Cikgu Baha & Cikgu Zul.

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