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EURJPY: RESISTANCE CONFLUENCE TRIGGERED PULLBACK.

An immediate descending trend line activating the EURJPY  pullback setup, currently, the market printing the signals @ 129.125. The 128.50 and 128.00 are the rest points for the market attention.
On a daily basis, pair’s drop to the 127.10 and then to the 126.35 can’t be denied. Moreover, quote’s sustained downturn beneath the 126.35 might not hesitate to revisit the 125.00 and the 124.60 supports.
On the contrary, resistance-confluence can escalate the pair’s recovery towards 130.40 and the 131.30 but potential run may restrict additional north-run; Should prices continue rallying past-131.35, the 132.00, the 132.90 and the 133.50 could become Bulls’ favorites.
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27 Aug 2018 3:05 pm Posted by tamilforex

 
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