EURJPY Price Analysis – July 30

An increase of the bulls’ pressure may increase the price to $30.9, which may push the price to $132.0 and $132.5 price levels. In case the pressure of the bulls could not break up the $130.9 level, the price may decrease towards the support levels at $129.6, $128.2, and $127.3.


EURJPY Market
Key Levels:

Resistance levels: $130.9, $132.0, $132.5

Support levels: $129.6, $128.2, $127.3

EURJPY Long-term Trend: Bearish

EURJPY is bullish on the long-term outlook. The price reached the March low at $128.2 price level on July 20. The sellers’ pressure fails at the just mentioned level. The bulls gained more pressure to push up the price; this is seen on the daily chart with the formation of more bullish candles. The price has penetrated the resistance level of $129.6 upside, heading towards the resistance level of $130.9.


The fast-moving average (9 days EMA) is bending towards the slow-moving average (21 days EMA), attempting to break it up. The price is trying to penetrate the 9 periods EMA and 21 periods EMA upside to establishing an uptrend. An increase of the bulls’ pressure may increase the price to $30.9, which may push the price to $132.0 and $132.5 price levels. In case the pressure of the bulls could not break up the $130.9 level, the price may decrease towards the support levels at $129.6, $128.2, and $127.3.

EURJPY medium-term Trend: Bullish

EURJPY is bullish on the 4-hour chart. The bulls’ momentum triggers at the support level of $129.6. More bullish candles were produced and it increases towards the $130.9 level. The dynamic resistance levels have been penetrated upside.


The price is trading above the 9 periods EMA and 21 periods EMA. The relative strength index period 14 is at 60 levels with the signal line pointing up to indicate a buy signal.