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EURJPY flirts with summer highs

From xm.com

{video} EURJPY is flirting with its 15-year high of 157.94 again that it registered in July, thanks to strong buying interest over the past three days. The pair bounced up with strong momentum following the nosedive to a six-week low of 151.39 last Friday, forming a bullish channel in the medium-term picture. More fuel is needed to continue the rally above 158.00, but the negative trend in the RSI and MACD cast doubt on a major change happening soon. Note that the stochastic oscillator is nearing its 80 overbought level too. If the uptrend resumes above 158.00, the price could mark a new higher high somewhere between ... (full story)

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  • Category: Technical Analysis