2 KEY AREAS TO WATCH OUT FOR
Here are 4 near-term opportunities for EURJPY.
There is a strong uptrend on the 4hr mirroring the bull run shown on the Daily time frame. I believe price will continue to ascend before it reaches the monthly descending resistance shown in blue at the top of the chart.
Today I will be watching out for an opportunity to buy on the 125.5 support, with a target area of 126.75-127.5. Alternatively, price could break through the support in which I would look for an opportunity to sell on a pullback with a target area of 124.3.
However, considering the possibility that price doesn't even touch the 125.5 support and ascends straight to the 165.75 resistance, there are 2 more possibilities of direction displayed on the chart.
There is a strong uptrend on the 4hr mirroring the bull run shown on the Daily time frame. I believe price will continue to ascend before it reaches the monthly descending resistance shown in blue at the top of the chart.
Today I will be watching out for an opportunity to buy on the 125.5 support, with a target area of 126.75-127.5. Alternatively, price could break through the support in which I would look for an opportunity to sell on a pullback with a target area of 124.3.
However, considering the possibility that price doesn't even touch the 125.5 support and ascends straight to the 165.75 resistance, there are 2 more possibilities of direction displayed on the chart.
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