Since December 2020, the price has been following a clear , bouncing many times on its dynamic S/R line.
On the 14th of January 2021, the price broke through the channel, collapsing down until the main weekly trendline.
It re-tested few times the same trendline before moving up again with a strong impulse.
Few days ago the price reached an important , getting a really quick rejection. It's currently on the level 126.500, re-testing its previous .
The next price action will be essential to understand the next market movement.
If you would like to have a quick look on my previous EURJPY analysis, click the link below:
In the daily perspective, the price is following a and a couple of weeks ago it reached its dynamic trendline.
The price is actually moving with a impulse and I'm confident to see now a new rejection on the at about 126.500 and a new impulse until the next at about 127.300.
I'll be waiting the next few h4 sessions before planning my long position on this trade.
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⚠️Please note the views are not investment advice and should be used only for educational purposes⚠️
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