• EURJPY reversed from support zone • Further gains are likely EURJPY continues to rise after the previous sharp upward reversal from the support zone lying between the key support level 125.00 – intersecting with the lower daily Bollinger Band. The upward reversal form this support zone completed the earlier short-term correction (c) of the ABC correction 2 from July. Given the oversold reading on the daily Stochastic indicator – EURJPY is likely to rise further and re-test the next resistance level 126.60 (former monthly low from June).
Related Posts: