PrimeXBT
Short

EURJPY- Will price through the strong support?

FX:EURJPY   Euro / Japanese Yen
The third test of the support on the higher time frame shows that price is willing to break through the support if it continues to hug the support for too long.
On the lower time frame, the price chart of EURJPY has been spotted forming a classical chart pattern called THE DESCENDING TRIANGLE CHART PATTERN.
The most consistent advantage is to keep in mind that the support wont hold for too long and will likely break, and will automatically give a siganl to go short right below the horizontal support. More to that is the BB squeeze and price is below the median line .
Keep in the mind the following price levels:
Breakout: 117.741
Support: 117.579
Support: 117.305
Support: 117.011
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Ideas published should not be referred to as an investment advice.
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