10.10.202407:15 Forex Analysis & Reviews: Technical Analysis of Intraday Price Movement of EUR/JPY Cross Currency Pairs,Thursday October 10, 2024.

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If we look at the 4-hour chart of the EUR/JPY cross currency pair, there appears to be a hidden deviation between its price movement which forms a Lower-Low with the Stochastic Oscillator indicator which actually forms a Lower-High coupled with confirmation of the EUR/JPY price movement moving above the EMA 34 which also has a slope that dives upwards and the price movement bounces after being held at the Support Bullish Fair Value Gap area level, making EUR/JPY potentially strengthen upwards where currently the level of 163.35 will be tested if it is successfully penetrated upwards then EUR/JPY has the potential to continue its strengthening to the level of 168.50 but if on its way to these levels there is suddenly a weakening correction where EUR/JPY falls and closes below the level of 161.26 then all the strengthening scenarios that have been described above will become invalid and automatically canceled by themselves.

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