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09:14, 21 février

EURJPY Daily Analysis

After forming a bullish harami candlestick pattern on Monday, the EURJPY pair traded higher for the second successive session .yesterday and closed at 132.41, following a high at 132.51. As of now, the daily RSI and stochastic indicators are sharply moving .upwards, hinting the presence of bullish momentum in the pair. Additionally, a likely positive centreline crossover by the 4H MACD, along with the 8H MACD and RSI trading with an upside tone, further confirms the above stance. Crucial resistance is .placed at the 133.11/15 level, followed by the 133.50 and 133.79/80 levels. A break and stability above the latter might trigger .further acceleration to the upside. On the other hand, key technical support is located at the 8H 20SMA (currently placed at 132.49/45), followed by the 132.12/10 level and the 8H lower Bollinger band (currently trading at 131.71/70). A move back .below the latter might lead to negativity in the pair.