EUR/JPY DAILY 6TH-Jan-2020
EUR/JPY have been bouncing in a narrow wedge and price seams to be respecting our dynamic support trend-line. I’m looking out for a strong reversal pattern to give a confirmation of the movement in a bull push up but take note that in a narrow wedge price have high tendency to breakout to the downside. Also I must ensure my trades decisions obey the 2R ratio
We must therefore be extra careful with our decision makings at this zone and a breakout below may serve as a strong signal for the bears trying to move price more bearish although the trend is bearish on the long-term
Seeing a breakout below, I would love to see a retest of broken dynamic acting as a new dynamic resistance level.
What do you think about this currency pairs?
Remember the comment box is all yours..👇
Allen (CEO @fxklex)