EURJPY has moved from resistance to support from the 133 even level to the 131 even level where it is currently at support. The daily close of the latest candle does not show a break below the ascending trend line (indicating the uptrend) thus if price gives us a move to break this minor downtrend(correction) i would wait for price to pullback and ensure support...
Price has currently broken out of the descending trend line but has not had a candle close higher than the previous lower high. I am expecting price to make a retest and find support before continuation of the upwards move to retest the high.
Where price is now for the yen i think many traders would be looking to short at this current level of resistance. Since price has not yet made a lower low, and is still respecting both the ascending trend line as well as the descending trend line, i think price could possibly range or make another move to the upside to retest the high, or find rejection at the...
Price has found daily support, possible retrace towards resistance to fill the gap, before continuing towards the weekly support in this current downward move. Hence if price does have momentum and fills the gap we could see a push towards the monthly resistance level
