Selling momentum is lost with each test of resistance. The previous 2 tests at resistance had instant rejections, the market consolidating now indicates that there may be no more sellers left and an bullish move is coming. Next resistance is at 131.500.
I agree with your bullish view on EURJPY. Our trading signal idea is also of the same bias. We have found roughly support level at 130.98 which is also a 61.8% fibonacci extension
Additionally, our RSI is approaching support, which backs up our bias.
Glad to see that we have the same bias for EURJPY.
Yearn-Forex
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@FXCM-EDU, My bias is still bullish but i've already exited the trade as i'm not happy with the way the daily candle is looking.
I may re-enter based on how price action plays out today.
Additionally, our RSI is approaching support, which backs up our bias.
Glad to see that we have the same bias for EURJPY.