EUR/JPY Bullish Above 122.00

Dear Traders,

The EUR/JPY has been supported at the POC zone slightly above D L3 and ascending trend line. The ATR pivot additionally supports the pair.

The POC zone at D L3 122.00-122.10 is supportive for the EUR/JPY. However, the price ideally needs to stay above the POC zone for bullish continuation. If momentum persists, next targets ate 122.25 and 122.48, the final intraday ATR projection. Only a strong bullish impulse can get above the ATR high towards 122.65. If the pair drops below 121.95, it might start a down move towards 121.60.

The analysis has been done with the CAMMACD.MTF template.

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Many green pips,
Nenad Kerkez aka Tarantula FX
Elite CurrenSea

This article was originally posted on FX Empire

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