EUR/JPY continues to rise toward the key resistance level 142.36, which was previously identified by Autochartist. Autochartist rates the Significance of this resistance level at the 4-bar level – which is the result of the four previous price reversals from this price level. EUR/JPY is expected to continue to rise toward the resistance level 142.36.

As can be seen from the EUR/JPY chart below – the price recently up from the support area set between the key support 139.40 (former monthly high from April), 20-day moving average and the 50% Fibonacci correction of the upward impulse from May. The proximity of this support area and the strong daily uptrend increase the probability EUR/JPY will continue to rise toward the resistance level 142.36.

Want to get full Autochartist Access including the Autochartist Market Scanner, email reports,
Mobile App, and the full Autochartist Web App?
Subscribe here: ChartViper Subscriptions