EURJPY facing the turning point,Resistance of 125.bull or nah
So as i emphasize that 125 as strong resistance,let me tell you why.
1,the number itself is quite been checked by investors.well 50 100 150 200 those numbers are often checked and becomes trend conversion point as many investor checks.As result you can see it has been supported several times.
2,It is the 0.618 of Fibonacci line that is made by this BIG crush.well as we all know this part is strong part of FIBO.
3,The point where if it breaks up the MAs in 4 H chart will be making golden cross so it could be a start of new trend.
so yeah those are the reasons why i think.
what to do is that,once the price breaks that resistance we should carefully see if it comfirms the break out by seeing some chart pattern or whattever then entry.Plus right now it is forming ascending triangle which is often appear as bBULL
If the price doesnt break up we should again start shorting it.
1,the number itself is quite been checked by investors.well 50 100 150 200 those numbers are often checked and becomes trend conversion point as many investor checks.As result you can see it has been supported several times.
2,It is the 0.618 of Fibonacci line that is made by this BIG crush.well as we all know this part is strong part of FIBO.
3,The point where if it breaks up the MAs in 4 H chart will be making golden cross so it could be a start of new trend.
so yeah those are the reasons why i think.
what to do is that,once the price breaks that resistance we should carefully see if it comfirms the break out by seeing some chart pattern or whattever then entry.Plus right now it is forming ascending triangle which is often appear as bBULL
If the price doesnt break up we should again start shorting it.