After breaking down the rising wedge, EurJpy dropped and found support as expected above 123 zone (horizontal support and beginning of the wedge).
I expect a bull move from this point and 124.50 could be the target
EURJPY is position at price @ 124.88 for a bull run . This is a short term analysis.
Overall, we should expect a pullback of price around @ 124.97 and if the price closes below @ 125.12 then our move will be short to the downside with target price @ 123.54 and @ 123.50
I am bullish until the price reaches @ 124.97
Good Luck Traders.
We're currently monitoring two key levels. Over on the 4-hour time frame, the lower 123.105 level held up as price made a stronger bullish move to the upside. While entering on that level seemed premature, the price drift to the higher 123.5 level is a good indication that selling pressure remains rather weak. If the price drift holds above this latest level on...