EURJPY Will Grow! Long!

Take a look at our analysis for EURJPY.

Time Frame: 9h
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish

The market is trading around a solid horizontal structure 164.049.

The above observations make me that the market will inevitably achieve 165.508 level.

P.S
The term oversold refers to a condition where an asset has traded lower in price and has the potential for a price bounce.
Overbought refers to market scenarios where the instrument is traded considerably higher than its fair value. Overvaluation is caused by market sentiments when there is positive news.

Like and subscribe and comment my ideas if you enjoy them!

Comment:

I am confident in this trade so I will keep it open!