EURJPY MONTHLY CHART - WHAT I AM LOOKING TO TRADE - Part 1

I start my analysis of EURJPY at the monthly time frame so I can map out the major structure of this currency pair. Here I see price has now moved up to the down sloping trend line acting as major resistance. From this point forward I expect price to bounce off this line of resistance and to start moving down to the down sloping support line.

Note: Price will move from support to resistance and from resistance to support until trading psychology changes and there is a breakout.

Comment:

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