EURJPY BOUNCE OF THE UPSIDE SUPPORT
ERUJPY is bouncing off the upside support 127.50 for an extension higher. To continue upside we need to see a confirmation of this bounce. If we will not have a confirmation of this break higher and the pair closes below 127 we could see a deeper pullback to 126. As long as the EURJPY is above 126 the uptrend is intact and you should target 130.
Note – We are inclined to long trade entries with the stop loss below 127
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