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EURJPY 29 Aug 2023

EURJPY 29 Aug 2023 on the H4 timeframe. It can be seen that the pair successfully penetrated the 61.8 fibo level yesterday, and continues to bullish towards the 100.0 fibo level. It was at 156.917 last week and now the pair is at 158.592 and may continue to rise. If referring to the stochastic indicator, it can be seen that the pair is starting to enter the saturated zone due to overbought. If a trend reversal occurs then go-short could be an option for traders, but if that does not happen and the pair continues to be bullish, then go-long is an option. Keep an eye on the market movements and changes.

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