EURJPY :Returning to upward momentum?

OANDA:EURJPY   Euro / Japanese Yen
EURJPY has been in a prolonged uptrend since the beginning of the year, hitting a new 15-year high of 159.75 on August 31. Since then, the price has traded without clear direction around the 158 level, 00, while short-term oscillators are reflecting a neutral to positive short-term trend.

If buying interest increases, bulls could attempt to retest the recent 15-year high of 159.75. Above that zone, the pair could reach new multi-year highs, where the 161.38 peak in February 2008 could limit further advances. If not stopped there, the price could rise to challenge the April 2008 high of 164.97.

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