TheBulltrader
Long

EurJpy Sell off Reversal or Upward Continuation

FX:EURJPY   Euro Fx/Japanese Yen
54 1 0
EurJpy             has continued to go up short term and is testing the support level 130.4; Rsi is oversold on the 1 hourly and encourages buying. However, EurJpy             has already gone above previous monthly support at 130.124 which will encourage bears to come in and short making it the "new resistance". This is either a fake out to the downside or will break through short term bull run and continue downward pressure. Decent Risk to reward for Buying EurJpy             for the short-term.