- EUR/JPY turns bullish as it forms a double bottom and a bullish engulfing candle pattern.
- Short term, the EUR/JPY is neutrally biased, trapped within the EMAs.
- EUR/JPY Price Analysis: Bullish above 142.00; otherwise would turn downwards.
EUR/JPY rallied sharply on Monday and formed a bullish engulfing candle chart pattern. A double bottom takes shape as the EUR/JPY is poised to test solid resistance at around the 142.29-47 area. At the time of writing, the EUR/JPY is trading at 142.03.
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