EURJPY tested the trendline support which acted as resistance for a quite some time and by the look of it, I really doubt if it is going to break this time. Of course never say never but I favor a bounce higher from here.
When the line acted as resistance, it took 4 tests before the price managed to break it to the upside and on Friday we had a 2nd test, since the line turned into support.
As this is Daily chart and the pair in question moves quite a lot, I will look for possible clues to enter longside on lower TF and for small targets.
When the line acted as resistance, it took 4 tests before the price managed to break it to the upside and on Friday we had a 2nd test, since the line turned into support.
As this is Daily chart and the pair in question moves quite a lot, I will look for possible clues to enter longside on lower TF and for small targets.