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Good risk to reward trade with the pair struggling to break major resistance, We expecting a retrace to around 1.28500 & further downside to around 1.27550 depending on how price reacts on the 1.28450 area.
While testing major support zones around 1.00950 the retraced right down to 1.00260 where we've seen a retracement from there to support zones.
We are expecting a bounce off the trendline where our first take profit is around 1.00000.
As we seen last week, the pair as been ranging between 142.500 & 141.870. We have seen a break lower as discussed on our previous analysis last Thursday, price reached a lows of 141.00 where we caught a retracement before market closed.
We are expecting the pair to bounce off trendline resistance which is around 142.715 and work its way down to 140.00 where our...
GJ hitting trendline perfectly as we seen a retracement from 143.335, looking for an hourly 4th close below the trendline and a break below 141,872 will confirm a short for this pair.
When price approached 141.880 its made its last leg up to 143.454 which is major daily & weekly support level , before entering this trade we waiting for an hourly 4 closure below...
GJ hitting trendline perfectly as we seen a retracement from 143.335, looking for an hourly 4th close below the trendline and a break below 141,872 will confirm a short for this pair.
When price approached 141.880 its made its last leg up to 143.454 which is major daily & weekly support level, before entering this trade we waiting for an hourly 4 closure below...
Moving averages have crossed for a sell which indicates a clear sell on EURJPY as well as support & resistance is rejecting 125.250 which is a key psychological level on this pair.
Clean break through and close above the daily time frame, we have seen some consolidation and retracement - Expecting the pair to bounce off the trendline and meet required targets - We could expect a break & close bellow the trendline which will change momentum to the downside.