As it can be inferred from the graphical illustration, the price of EURJPY is trading within the borders of the ascending channel.
At the moment, the price is forming a bottom at the area of previous resistance later turned support that nicely lines up with 50% Fibonacci retracement level.
After receiving some confirmations on the lower timeframe charts, we will be looking at executing BUY positions and aiming for the area of the current Higher High plotted on the chart.
At the moment, the price is forming a bottom at the area of previous resistance later turned support that nicely lines up with 50% Fibonacci retracement level.
After receiving some confirmations on the lower timeframe charts, we will be looking at executing BUY positions and aiming for the area of the current Higher High plotted on the chart.
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