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Eurjpydaillyforcast

EUR/JPY climbs to 129.46Daily outlook - EUR/JPY climbs to 129.46 An early hours of Monday’s trading session revealed that the EUR/JPY currency pair has successfully used an upside moment that was created by a release of data on the US CPI last Friday to surge not only to the 129.46 level, but climb even a little bit higher. In theory, the pair has a chance to gain a foothold at the monthly PP at 129.78. However, three red candles in a row combined with the CCI and RSI technical indicators suggest that the pair has reached already its maximum and now will start to decline. If this assumption is true, then the minor overstep beyond the above 129.46 mark simply represents a bearish fakey pattern. This scenario is, generally, supported by the market sentiment, as 68% of traders continue to hold short positions on this currency pair.
by UnknownUnicorn890690