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EURJPY hovers around 200-day SMA in short term
EURJPY has been in a back-and-forth movement around the 200-day simple moving average (SMA) after the bounce off the 127.50 support level around the lower Bollinger band. The price has overcome the 20- and 40-day simple moving averages (SMAs), which have just completed a bullish crossover, and the technical indicators are confirming the bullish bias. The RSI is pointing somewhat up in the positive region, while the MACD is strengthening its positive move above its trigger and zero lines. Immediate resistance could come from the 131.55 barrier taken from the inside swing low at the end of October 2021. If the bulls ... (full story)