Daily Support – Right now EURJPY is trading near the daily support level at 116.75 which was tested in multiple times in previously.
Inverse Head and Shoulders Pattern – As this minor trend met the daily support it shows some weaknesses to break below this level. As a result, price starts forming an inverse head and shoulder pattern at the support.
Trade Idea – Consider going long if price broke above neckline strongly.
Analysis From - Trade Revenue Pro
Disclaimer: Trade Revenue Pro’s view on the Forex Charts is not advice or a recommendation to trade or invest, it is only for educational purposes. Don’t Blindly Buy or Sell any Asset, Do your own analysis and be Aware of the Risk.