EURJPY: strong bullish signal, oscillators confirm the upward trend

Strong bullish signal, Euro Yen pair crossed above 14-day moving average and major oscillators confirm the upward trend.

Tuesday, July 25 Euro Yen pair closing price was 130.42 (+0.73%). Strong bullish signal, for intraday trading session the technical view is positive and leaves assume the up-trend continuation. However, we can’t exclude retracements towards the most significant support levels. The major oscillators confirm the upward trend.
EURJPY strong bullish signal

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Simple Moving Average (SMA)
Strong bullish signal: the price crosses above 14-day moving average (SMA value is 129.62). Today trading session forecast is for further price extensions towards the most significant resistance levels.

Support and Resistance levels
7, 15 and 30 trading days Performance. Support, Resistance and Pivot Point levels. Last updated closing price: 25/07/2017

Performance: 7 trading days= +0.95% – 15 trading days= +1.54% – 30 trading days= +6.46%

Resistance levels: R1= 130.92 – R2= 131.43 – R3= 132.77
Pivot Point: 130.09
Support levels: S1= 129.58 – S2= 128.75 – S3= 127.41

Buying opportunity above 130.60 targets minor resistance at 131.22 and perhaps as far as strong resistance at 131.71, where sellers could regain control. Above that level it could trigger an acceleration to the upside with the next target at 132.40.

Selling opportunity below 130.04 targets minor support at 129.44 and perhaps as far as strong support at 128.96, where buyers could get back into the market. Below that level we could expect a bearish downward movement with the next target at 128.29.

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