Striking a cautious note in EURJPY
Updated
=> Whilst we are expecting EUR strength to pick up from a macro perspective in the coming quarters as the dollar story unwinds we are still expecting tumultuous weeks ahead across the board.
=> As a result of this YEN may get bid so EURJPY needs watching closely.
=> If the EUR remains soft then a breach of the support between 123.x - 124.x will unlock the downside rather quickly as the ladder is empty.
=> To the other side we have our eyes on a test of 2018 highs with some profit taking to be done around 140.
=> Good luck
=> As a result of this YEN may get bid so EURJPY needs watching closely.
=> If the EUR remains soft then a breach of the support between 123.x - 124.x will unlock the downside rather quickly as the ladder is empty.
=> To the other side we have our eyes on a test of 2018 highs with some profit taking to be done around 140.
=> Good luck
Comment
As expected bulls coming and showing support... we need a break above 132 to unlock and confirm the leg towards 140
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