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11.01.2023 07:18 PM
EUR/JPY: uptrend could be over

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EUR/JPY 142.83 As Major Upside Target!

The EUR/JPY pair registered strong growth and now it was almost to hit the 142.83 former high (historical level). This is seen as an upside target and obstacle and could stop the upwards movement.

Technically, the rate could still resume its growth as long as it stays above the uptrend line (downside obstacle).

EUR/JPY Trading Conclusion!

Staying above the uptrend line and passing above 142.83 could announce an upside continuation.

Dropping below the uptrend line and staying below 142.83 could signal a new downside movement and could help the traders to sell.

Ralph Shedler,
Analytical expert of InstaForex
© 2007-2024
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