Hello Forex Trader, I just wanted to share with you my latest personal view on the EURJPY.

EURJPY 11TH-FEB-2020

The currency broke an intermediate bullish rising channel which price did retested broken dynamic support trend-line on the 5th-Feb-2020 and which the dynamic broken trend-line proof to act as a new dynamic resistance trend-line for this currency pair.

EURJPY had been trading within the range right since retest of dynamic trend-line acting as resistance level, also remember we have a potential key-level resistance @121.415 and an active support key-level structure @119.466.

My analysis found out on the weekly time-frame a potential bearish pin which is in support of the breakout of previous bullish intermediate trend right from 25th-Aug-2019.

SO WHAT’S NEXT ON EURJPY?

Will the bull defend key-level support @119.466 to retest resistance key-level @121.415?

Will the bear be successful to trigger a rotation to breakout of key-level support to open the path to re-expose key-level support @118.1995?

Will the bull and bear continue in a battle within the range?

Well a daily close below key-level support will show sign of the bears interest to move price more bearish while failure for the bears to break support today may trigger interest for the bulls to gather momentum to pull price upward or alternatively may result into trade withing the range.

To get access to my trading decisions on this currency pair click here now 👉:https://bit.ly/2SL1h0L

What do you think about this EURJPY?

Remember the comment box is all yours..👇

Trade well,
Allen @fxklex

Omoare Allen
Spread the love