The price action of the EURJPY is currently consolidating between the 50-day MA (in green) and the major support level at 128.450. A potential breakout above the regression channel's upper limit and the 23.6 per cent Fibonacci retracement level at 128.909 could then be followed by an upswing towards the 38.2 per cent Fibonacci at 129.789.
The rising histogram of the MACD indicator underpins this growing bullish momentum.
The rising histogram of the MACD indicator underpins this growing bullish momentum.
