EUR/JPY Is Still Very Bullish

EUR/JPY has been moving to the upside for over a month and the pair remains intensely bullish despite the impressive shooting star candlestick that has formed on the four-hour time-frame under the resistance at 123.20. The signal still applies and it will continue to apply until the pair breaks above the aforementioned resistance, but considering the circumstances that is not very likely. If we take a look at the weekly time-frame we will notice that EUR/JPY has almost reached the resistance at 124.00 which coincides with the (MA)89 indicator and even if there is a temporary retracement the pair will likely continue climbing until it reaches that target.