ByLCMS Traders FX Analysis Team
SEP 8, 2021
EUR/JPY Daily Forecast
EUR/JPY is trading 0.31% lower to 130.21 following a two-day bullish momentum. The intraday support levels are at 130.00 and 129.81. The intraday resistance areas are at 1.3059 and 130.76.
On the intraday charts, a bullish moving average crossover is in the make which is likely to help bulls move forward despite today’s decline. The mid-Bollinger band is at 129.41 while the upper and lower bands are at 130.99 and 127.82. The RSI is still above the neutral zone but has a downwards curve. The intraday price pattern is bullish despite today’s decline which makes the pair ideal for buying entries at a better price using the following levels
Direction: Buy
Entry: 130.05
Take Profit: 130.50 – 130.75
Stop-Loss: 129.74
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