EUR/JPY has
been consolidating below the resistance at 134.40 for the past few weeks, but
this consolidation may have finally ended, as the pair found some support at
131.80, formed a clear inverted hammer candlestick on the weekly time-frame at
that level and bounced off from it. Currently the pair is quite bullish and it
is testing the resistance at 133.00. A breakout above that level will probably
lead to a move to the upside towards the previous high at 134.40. All that said,
a renewal of the bullish trend will not be confirmed before the pair finally
breaks out above the aforementioned previous high at 134.40.
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ReplyDeleteLet's see whether there will be a breakout above 134.40.
ReplyDeleteSeems like it remains bullish.
ReplyDeleteBulls on the scene.
ReplyDeleteEur/Jpy is on the rise, a gap up.
ReplyDelete