Waiting For Break Out of Weekly Zone

FX:EURJPY   Euro / Japanese Yen
EJ had a big drop all week so this week looks like it can be a pullback before continuing down if it cannot beat the 124.187 zone or the 124.516 which would retest a bearish engulfing from the daily.

We're currently sitting inside a weekly zone, so we'll get a nice move out once price breaks out.

We are in a bearish channel until we break out of it. I'm not sure that this is the week for that since major news is happening of JPY this week. So let's enjoy the move.

• 123.816
• 124.187
• 124.516

• 123.107
• 122.601
• 122.233


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