TheBulltrader

EurJpy Sell off Reversal or Upward Continuation

Long
FX:EURJPY   Euro / Japanese Yen
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.
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