EUR/JPY Bulls Are Waiting In The Ambush

The EUR/JPY is ranging but there is a possibility that the price will bounce. Watch for the POC zone or break higher.

At this point, we can see that the price is rejecting D H3 and the lower trend line. We could see a bounce towards the D H5/W H5 128.92. However, if we see a retracement, watch for 126.70. There, buyers might be waiting to spike the price up. The final target is 128.92. A break below 126.60 and bears are taking control.

(Click on image to enlarge)

 

Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. On average around 80% of retail investor accounts loose money when trading with high ...

more
How did you like this article? Let us know so we can better customize your reading experience. Users' ratings are only visible to themselves.

Comments

Leave a comment to automatically be entered into our contest to win a free Echo Show.