EUR/JPY: Potential buying trade near trend’s bottom - Forex News by FX Leaders

EUR/JPY: Potential buying trade near trend’s bottom

Posted Tuesday, August 28, 2018 by
Arslan Butt • 1 min read

The EUR/JPY is consolidating in a tight range as the economic calendar is lacking major events. The EUR/JPY is expected to extend the move up, although 130.250 emerges as a strong hurdle.

EUR/JPY - 240 Min Chart

EUR/JPY – 240 Min Chart

The pair has formed a bullish channel which is extending a nice support near 129.500. Actually, it’s a bottom of the bullish channel and the pair is very likely to stay bullish above this level. Other technical indicators such as Moving Average and RSI are also supporting the bullish bias.

EUR/JPY – Key Technical Levels

Support Resistance
1.2951 1.3039
1.2925 1.3065
1.2881 1.3109
Key Trading Level: 1.2995

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About the author

Arslan Butt // Index & Commodity Analyst
Arslan Butt is our Lead Commodities and Indices Analyst. Arslan is a professional market analyst and day trader. He holds an MBA in Behavioral Finance and is working towards his Ph.D. Before joining FX Leaders Arslan served as a senior analyst in a major brokerage firm. Arslan is also an experienced instructor and public speaker.
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