EURJPY has suffered a great deal of bearish power through out the week, and is still overall a bearish bias for next week.
Right now we are at a key level of support at 117.60-80, we can expect a bull leg to form and surpass the 40 pip wick left from yesterdays sessions. This bullish leg is a simple retest of the bear flag we are currently in. After reaching this price point we can expect consolidation followed with a potential breakout on market open next trading week to price area 117.00.
Right now we are at a key level of support at 117.60-80, we can expect a bull leg to form and surpass the 40 pip wick left from yesterdays sessions. This bullish leg is a simple retest of the bear flag we are currently in. After reaching this price point we can expect consolidation followed with a potential breakout on market open next trading week to price area 117.00.