Traders, today is EUR/JPY day on cyprusthrive. Experts have noticed an upward move on the EUR/JPY pair marked by low volatility on an hourly basis.
Probability for volatility though still exists, which is generally connected with the charting of narrow ranged channels. Having said that, the abated upside momentum is very likely to trigger a price roll over and attract a down move, FX Street notes.
Aiming to bypass consolidation, as soon as the 50 EMA is eliminated there is significant potential for an upward move toward the 200 EMA. Traders noticed an acceleration above the recent highs, on the upside. This is again very likely to channel resistance, thereby hindering the move.