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Investments in financial products are subject to market risk. Some financial products, such as currency exchange, are highly speculative and any investment should only be done with risk capital. Prices rise and fall and past performance is no assurance of future performance. This website is an information site only.

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EURJPY could have made a major low at 129.

EURJPY is trading inside a bullish channel since October of 2020. Recently the price pull back has reached the lower channel boundary and is now reversing to the upside.

analytics60fedda79bb05.jpg

Red lines - bullish channel

EURJPY has many chances of starting a new upward move that will eventually bring price towards 133-134. The RSI is turning upwards from oversold levels. Price has held the channel support. As long as EURJPY is above 129, we are bullish.

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