Hi traders! Our last EUR/JPY post was a weekly FIB setup. 149 + 149.50 was achieved. We were expecting 153 on EUR/JPY but 150 acted as a strong barrier after the huge up move from 136.00!
When the market changes we must adapt as a trader. Now we are adapting to what this pair is currently communicating through recent price action.
The next downside key level is 138.00- 138.70. The hourly chart displays a series of lower highs and we are expecting a further dive to create a new lower low.
Potential 100-150 PIPS downside on this pair, if achieved will be analysing longer term momentum at the end of the week!