EUR/JPY Price Prediction: Pulling back within uptrend

• EUR/JPY is remedying within a bullish advance.
• Offered the brief and medium-term patterns are bullish more upside it anticipated offering particular conditions are fulfilled.

EUR/JPY is drawing back after increasing above the ceiling of its multi-month variety and breaking above the cluster of significant moving averages lying simply above.

EUR/JPY Daily Chart

The brief and medium-term patterns are bullish recommending the chances prefer more upside to come and a resumption of the uptrend. A break above 166.69 (October 31 high) would most likely validate an extension greater.

Resistance at 167.96 (July 30 swing high) might serve as a barrier to additional benefit. The minimum target for the breakout from the variety lies at 169.68, the 61.8% Fibonacci projection of the height of the variety to the benefit.

The Relative Strength Index (RSI) momentum indication is not yet in the overbought zone (above 70) recommending the set has space to go higher.