empty
 
 
14.08.2020 08:29 AM
EUR/JPY Price Movement On August 14, 2020

This image is no longer relevant

At the 4-hour chart, we can see that EUR/JPY is trying to reach the 127.47 level because this currency pair is still trading with the bullish bias. This has been already confirmed by technical analysis. The price is moving above the upward moving average. Before the pair reaches its target, it expected to make a retracement first as the condition for the healthy uptrend from the technical view. This retracement is confirmed by the divergence spotted between the price and the Stochastic Oscillator. Based on this fact, there is a possibility of the retracement of EUR/JPY with the target at the 126.16 - 125.86 levels. As long as the pair does not close below 123.96, the bullish outlook for this pair is still valid.

(Disclaimer)

Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $8000 more!
    In March we raffle $8000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback