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EURUSD
EURJPY
EUR/JPY Price Forecast: Rises above 183.00 to test nine-day EMA barrier
Key Takeaways (30s Read)
EUR/JPY is trading around 183.20, aiming for the nine-day EMA after recovering recent losses.
EUR/JPY has recovered from its recent losses and is trading at 183.20 during the Asian hours on Friday. The technical analysis shows a 14-day Relative Strength Index (RSI) at 54, indicating steady momentum after easing from overbought conditions. The price is approaching the psychological level of 183.00, testing the nine-day EMA barrier. If the price can break above 183.00, it may lead to further upside, although traders should be cautious and watch for volatility and potential targets at 189.00.
AI Analyst
AI Opinion
"The current market shows that EUR/JPY is on a recovery path, and traders should pay specific attention to the movements around 183.00. The nine-day EMA barrier indicates past price reactions, and a break above this level could lead to further gains. However, looking at technical indicators, the RSI at 54 signifies that the momentum is not yet strongly bullish, especially since macroeconomic factors may influence the price actions. It is crucial to trade cautiously while being aware of support and resistance levels as the price attempts to rally further."
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