EURJPY facing bullish pressure, potential for more upside

EURJPY facing bullish pressure, potential for more upside for FX:EURJPY by FXCM

EURJPY facing bullish pressure, potential for more upside



Prices are currently taking support on the 1st support which coincides with 50% Fibonacci extension as well as 61.8% Fibonacci retracement . Prices might bounce higher towards 1st resistance which coincides with swing high resistance and 61.8% Fibonacci extension level. If prices fall through first support, it is likely to reach the graphical swing low support which coincides with 78.6% Fibonacci extension . EMA also suggests that there is a bullish pressure on prices.

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