Technical Analysis – EURJPY still consolidating; unable to break above upper channel
Posted on February 9, 2021 at 7:03 am GMTEURJPY has been consolidating since December and has been stuck within the 23-month high of 127.50 and the 125.15 support. The neutral-to-bullish picture in the medium-term looks to last for a while longer after prices failed to break above the upper channel and the RSI is losing momentum in the positive territory. The MACD oscillator is moving horizontally near the trigger and zero lines. If prices head higher, resistance should come from 127.50 before taking the pair back to bullish [..]