Earlier price had broke out to the upside but a correction seems to be forming to follow the previous bearish trend tp=128.227 sl-130.832 Analysis based on technical observation only
Thanks for sharing, I agree with your idea and am bearish on EURJPY as well. I have identified a horizontal overlap resistance that coincides witht the 50% fibonacci retracmement level.
Glad that we have the same bias on EURJPY
stivmuiruri
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@FXCM-EDU, your welcome and thank you for the feedback.Feeling much confident when my analysis coincides with others.Lets drive this price to a profitable level
edmt15
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you think that it will stop at 132.976?
stivmuiruri
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@edmt15, 132.976 is just a stop loss level.to be on the safe side i usually put my 'stop loss' and 'take profit' levels based on the previous resistant and support points.However am open to any ideas,Care to share a different opinion?
edmt15
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@stivmuiruri, I see your point, I'm new in the comunity and I greatly appreciate your ideas here. I was thinking that it might go up cuz of the bollinger bands however based on the trend your comment makes more sense.
stivmuiruri
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@edmt15, your welcome to the community.feel free to do your own analysis and review other trader's analysis(that make sense)
Glad that we have the same bias on EURJPY