09:50, 06 March

EURJPY Daily Analysis

The EURJPY pair registered moderate gains in the previous session to end at 131.01. A possible signal line crossover from below by the daily MACD, accompanied by the RSI and stochastic indicators directing towards the north, indicates at a positive momentum in the pair. Besides, a positive centerline crossover by the 4H MACD, along with the 8H stochastic indicator tranquil in its overbought region, further confirms the above stance. The key technical barrier is positioned at the 2H upper Bollinger band (currently placed at 131.50), followed by the 131.85 and 132.11/15 levels. A break and stability above the latter might trigger .bullish momentum in the pair. On the other hand, crucial support is placed at the 4H 50SMA (currently trading at 130.88/85), followed by the 130.56/55 level and the 2H 50SMA (currently placed at 130.29/25). A breach below the latter might lead to .negative momentum in the pair.