EURJPY to find support at previous resistance?EURJPY - 24h expiry
Although the bulls are in control, the stalling positive momentum indicates a turnaround is possible.
We are trading at overbought extremes.
A lower correction is expected.
Short term bias has turned positive.
We therefore, prefer to fade into the dip with a tight stop in anticipation of a move back higher.
We look to Buy at 158.95 (stop at 158.45)
Our profit targets will be 160.15 and 160.65
Resistance: 161.25 / 162.00 / 163.10
Support: 158.60 / 157.70 / 157.05
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