EURJPY has rejected from yesterday's low at the price of 123.60 area. I am expecting an upside for this pair to next weekly resistance area.
Reason : - Daily candlestick has struggled to go below 123.60 leaving long daily candle tail below. - Head and Shoulder pattern formed in 2hourly TF. - Higher high formed, hinting the start of wave-2 motive. - Potential to reach next resistance points :
Entry point Long : CMP or any pullback ; TP : 125.20 (+130pips) ; SL previous low.
Risk Reward 1:3.5 Always remember to trade with stop-loss, market is crazy & cunning*
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+50pips now, the x6 retest of this are. Will it break above? lets see.