EURJPY near Fibonacci resistance
EURJPY is trading in a higher top higher bottom formation suggesting the trend to be positive in the near term, further it is also trading above the 20-day SMA supporting the above observation. The current decline experienced in the past two trading sessions looks to be an organic correction and is likely to find buyers. It is likely that EURJPY could advance towards $130.20 and 131.00 while it sustains bellow 129.50.
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Trading Forex or any CFD products may not be suitable to all investors and they must evaluate their risk appetite. The above article should not be construed as a trading or investment advice as it is solely for education and information purpose only. Trading might incur a loss of capital and hence investors might be required to gain further knowledge regarding the risks involved. Leverage should be used wisely.
Risk Disclaimer:
Trading Forex or any CFD products may not be suitable to all investors and they must evaluate their risk appetite. The above article should not be construed as a trading or investment advice as it is solely for education and information purpose only. Trading might incur a loss of capital and hence investors might be required to gain further knowledge regarding the risks involved. Leverage should be used wisely.
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