EURJPY near support zone

13 January 2021

EURJPY has declined in the past few trading sessions however the trend remains bullish for the currency in the medium term, currently it stands at the 20-day SMA suggesting it could rebound in the near term. RSI continues to trade in the positive territory supporting the above observation and indicating further upside potential. It would be prudent to say that the pair could rise further towards 127.00 and 127.35 if it sustains above 127.30.

Prepared by
Technical Analysis Team

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