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Eurjpyprediction

EURJPY SIMPLE R/S BREAKEURJPY has taken a big hit this week, it has been dropping rapidly, however it has reached a major support zone and seems to be being held up due to the bounce it had when price hit the zone. What we think will happen next depends on the next movement in price, if it breaks above the resistance zone marked on the chart then we will see some bullish movement to the (GREEN) resistance zone at 124.4-124.5, however if price drops and breaks below the support lowest support zone then we could see bearish movement down to the 121.6-121.5 region. We will wait and see for more confirmations and keep you updated
by UnknownUnicorn2396129
EURJPY STRONG RESISTANCE POINT REACHEDPrice has been travelling in a large ascending channel, we experienced a fake out to the downside, price made its way back into the channel annd shot up all the way up to the previous resistance point which is quite significant. We saw a major drop the last time we were here, can it happen again down to the bottom of the channel? We believe so... Price is currently being held up by a small support which we believe is about to be broken as the steep trend line it was following on its way up has now been broken.
Short
by UnknownUnicorn2396129
EURJYP BuyI believe the trend has reversed and we are now bullish but have hit a resistance point and should retrace where buyers may take a long position again. I have identified 2 places where you may wish to do a buy either at leg B OR you can decide to wait for market to go lower before buying in again at leg D. My labelled zones are only a rough idea of where i think the market may touch. Decide on your own Entry & Exit. DISCLAIMER Please note that this chart is an opinion based chart only. Please trade at your own risk
Long
by Quinkong