EURJPY approaching resistance, look out for potential reversal!
EURJPY is approaching its resistance at 120.506 where it is could reverse down to its support at 119.249.
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Losses can exceed the initial investment so please ensure you fully
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Eurjpyforecast
EURJPY Market Outlook | Daily Forex Market BreakdownEURJPY
Looking really good. Pushing below support for the time being we could see a reversal back to the upside soon. Patiently sitting on the sidelines, keep in mind it is still very early in the week. That being said EURJPY is looking really good, but nothing for us just yet.
EURJPY to climb from upside confirmation, potential bounce!
EURJPY to climb from its upside confirmation at 122.690 where it could potentially bounce further to 124.370.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully
understand the risks.
EURJPY possiblr rangeA possible trade set up for EURJPY. i believe there is further downside available in EJ, mainly because of the impeachment trial in the U.S starting next wee,k which may help boost demand for safe haven assets. the bounce could coincide with the lighter than usual trading volume in the U.S Monday because of the holiday. We also have the BOJ rate decision Monday evening and press conference that may weaken the yen, in my opinion, as I don't expect the BOJ to be hawkish. Moving forward we have the trial beginning on Tuesday and paired with the return of volume we may see a continuation of the drop which would coincide with an ABC correction in the near term. From there it becomes a bit more difficult as we come into a demand zone and longer time frame trend line. A break below the trend line and a daily close below it certainly suggest further downs side is possible. Any time price is over 122.50 it is bullish in my opinion, but there may be near term resistance in 123.25 area that pushes price down slightly to retest the 122.50 area; before continuing up in an attempt to close the gap. I see a strong resistance area up top so any over shoot of the gap may be contested . not trading advice. just my perspective. happy trading