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long1996

EJ Daily Analysis

Short
Euro / Japanese Yen (FX:EURJPY)  
long1996 Updated   
FX:EURJPY   Euro / Japanese Yen
Trend Analysis Chart Patterns
1
0
trendanalysis chartpattern
Entry: 128
SL: 128.4
TP: 127.25
snapshot
Daily: The Price is respecting the Downtrend. The pair has found support on 127.25 after a strong bearish move. A break above 128.5 would push the price upwards to 129.5 which match up with the trend line.
snapshot
4H: The pair is currently in a downward channel. An upside break of this channel would see the retest of 128.5 resistance. On the downside, if the channel is respected, the price will move downwards to 127.25 & potentially 126. Wait for the more confirmation.
snapshot
1H: If the price breakout of the channel it will retest the upper resistance 128.5. However if it respect the structure it will continue its descent towards the 127.25 mark. Wait for a more meaningful retest of resistance at 128.5 as the channel structure has been broken briefly.
Trade closed: target reached
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