An upper line of a falling channel(greyline) is being backtested after breaking up on the 9th of November. Now I am waiting for the further rally to 127 or more. The middle of the falling red channel should represent support and sooner it should be broken upward in the wave fifth wave.
Important: If EURJPY goes below 123 then this bullish view will be getting problematic and the EURJPY could decline below 121.
Always manage your risk!
Traders! if you like my ideas and do take the same trade, please write it in comment so we can manage the trade together.
Disclaimer
the content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent investment decisions.
Important: If EURJPY goes below 123 then this bullish view will be getting problematic and the EURJPY could decline below 121.
Always manage your risk!
Traders! if you like my ideas and do take the same trade, please write it in comment so we can manage the trade together.
Disclaimer
the content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent investment decisions.