• EURJPY To Resume Uptrend?

    EURJPY To Resume Uptrend?

    The EUR/JPY pair may resume its uptrend after it appears to have found some footing at around the 141.00 area. A confluence of supports here in the resistance of a failure swing bottom pattern and its uptrend line should be enough to carry the euro afloat against the Japanese yen. Moreover, a spinning top that occurred last Friday also points to a possible bounce in the very near term. If the pair can hang onto its support at present level then it may revisit its interim high of 143.50. A slip below 140.50, on the other hand, may bring it down to at least 139.00.

     

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