EUR/JPY is strongly dominated by bulls
By
Felipe Erazo
PUBLISHED:
Dec 03 2013 @ 00:43
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The EUR/JPY remains fully consolidated in bullish trend and is likely to continue to rise this pair.
This pair is consolidating above the weekly pivot point at the level of 138.68 and now, it is very likely that this pair rise to the resistance level of 140.25. If the EUR/JPY manages to break that level, it is expected to rise to the level of 141.31. On the other hand, if this pair makes a bearish rebound at current levels would be expected to fall back to the pivot point at the level of 138.68. For now, it is advisable to follow the trend of this pair.
The MACD indicator is still in positive territory, so our bullish outlook still alive.
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