EUR/JPY downtrend may accelerate further
The resistance area in the daily chart of EUR/JPY appears to be holding well.
We have got multiple rejection/bearish candles in the resistance area with long wicks
at the top.
This indicates that the sellers are gaining an upper hand while the bulls are losing momentum.
If this continues, EUR/JPY can drop as low as 128.
So, depending on bearish price action, sell EURJPY@129.80-130.30 with SL above 131
and TP at 128.15
We have got multiple rejection/bearish candles in the resistance area with long wicks
at the top.
This indicates that the sellers are gaining an upper hand while the bulls are losing momentum.
If this continues, EUR/JPY can drop as low as 128.
So, depending on bearish price action, sell EURJPY@129.80-130.30 with SL above 131
and TP at 128.15
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