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EUR/JPY Price Reverses at $122 Support Level, Shooting $126 Resistance Level

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There’s a probability that is high the price will increase to $125 cost degree, by which it could expand to $126 and $127 resistance degree provided $125 level will not hold. The help levels to watch are $124, $122, and $123.

EURJPY Market
Key Levels:
Supply levels: $125, $126, $127
Demand amounts: $124, $122, $121

EURJPY Trend that is long-term
EURJPY market plays just how we predicted week that is last there is an amount rejection at the need degree of $122, the price reverses and increases to split up the very last week’s resistance degree at $124. The cost is aiming at a opposition that is significant of $125. The purchase price is bullish into the movement that is long-term.

EURJPY frequent chart, 09 October
A week ago, industry closes below the two support that is dynamic near the $122 cost level. Today, the bulls have forced up the purchase price over the 9 durations EMA and 21 periods EMA. There exists a probability that is high the purchase price will increase to $125 price degree, in which it could extend to $126 and $127 resistance degree provided $125 level does not hold. The support levels to watch are $124, $122, and $123. The power that is relative period 14 using its signal line is above 50 amounts pointing up to indicate a buy signal.

EURJPY movement that is medium-term
EURJPY is bullish in the outlook that is medium-term. The currency set was bearish final fourteen days together with energy that is bearish the purchase price during the help degree of $122. The bulls opposed the cost decrease using the formation of bullish candles. The purchase price enhance and penetrated the $124 price level upside.

EURJPY chart that is 4-hour October 09
EURJPY is dealing above the 9 periods EMA and 21 durations EMA together with two EMAs are following a trend for the price. The strength that is relative duration 14 is bending down at 60 amounts to indicate a sell sign which might be a pullback. At the opening for the market week that is next traders can place a purchase take a look at $125.596, take profit at $126.990, and stop-loss at $125.032.

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Billy Houghton

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