EURJPY Retest Then Buy!
I missed the initial impulse move from EJ so what Im gonna do is wait on the potential retest/rejection into my zone for a bullish continuation to the highest level of resistance, area 129.950.
On the other hand, if structure breaks and closes below area 128.625-ish, I can expect the BEARS to step in and pull price down to my support zone 127.410-ish after retest.
Let's ALSO keep in mind that price has REJECTED the MONTHLY trendline resistance and this bullish move that we're in now could just be price going back to pick up the wick from last month's candle rejection to potentially create a double top to drop long term. Maybe it'll break monthly structure and continue bullish, who knows?!
*This is just my personal opinion. This is not financial advice in any shape or form as I am NO financial advisor*
On the other hand, if structure breaks and closes below area 128.625-ish, I can expect the BEARS to step in and pull price down to my support zone 127.410-ish after retest.
Let's ALSO keep in mind that price has REJECTED the MONTHLY trendline resistance and this bullish move that we're in now could just be price going back to pick up the wick from last month's candle rejection to potentially create a double top to drop long term. Maybe it'll break monthly structure and continue bullish, who knows?!
*This is just my personal opinion. This is not financial advice in any shape or form as I am NO financial advisor*
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