- September 14, 2023
- Posted by: capadmin
- Category: Market News
Currency Update: EURJPY Signals Bullish Reversal
The EURJPY currency pair is currently showing signs of a potential bullish reversal, with the shorter-term Simple Moving Average (SMA) recently crossing above the longer SMA and the MACD bars displaying a bullish green signal. Traders should remain vigilant and consider various factors before making trading decisions, as market conditions can change swiftly.
• Chart time-zone is UTC (+03:00)
• Candles’ time-frame is 4h.
The EURJPY currency pair is currently exhibiting signs of a potential bullish trend reversal. The shorter-term Simple Moving Average (SMA) has recently crossed slightly above the longer-term SMA. This crossover is often seen as a bullish signal, suggesting that the pair’s recent price momentum may shift upward.
Furthermore, the MACD (Moving Average Convergence Divergence) histogram bars are green, indicating positive momentum and a potential increase in buying pressure. When the MACD bars are green, it signifies that the shorter-term moving average (usually 12 periods) is above the longer-term moving average (typically 26 periods), reinforcing the idea of a bullish bias.
However, traders should exercise caution and consider other factors such as support and resistance levels, fundamental economic data, and geopolitical events before making trading decisions, as market conditions can change rapidly.
• DISCLAIMER: Please note that the above analysis is not an investment suggestion by “Capitalcore Ltd”. This post has been published only for educational purposes.