EURJPY Has Been in a Long-term Upward Trend
EURJPY has been in a long-term upward trend since the start of the year, reaching a new 15-year high of 159.75 on August 31. The price has been trading without a clear direction around 158.00 since then.
The bulls could aim for the 15-year high of 159.75 if the sideways pattern breaks to the upside at 161.00. The pair could reach fresh multi-year highs if it rises above that zone, but the February 2008 peak of 161.40 may curb further advances. The April 2008 high of 164.95 could be challenged if the price doesn't halt there
The bulls could aim for the 15-year high of 159.75 if the sideways pattern breaks to the upside at 161.00. The pair could reach fresh multi-year highs if it rises above that zone, but the February 2008 peak of 161.40 may curb further advances. The April 2008 high of 164.95 could be challenged if the price doesn't halt there
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