EUR/JPY Bearish Hints at Resistance

1 min read
Nenad Kerkez

Nenad Kerkez

Head of Trading

Dear traders,

The EUR/JPY has formed a 1-2-3 pattern at resistance. We could see a drop soon if the point 1 holds.

EUR/JPY is trying to push higher but 1-2-3 is holding it. the 130.45 zone could move the price lower towards 130.27 and 130.05. However if the price moves above 130.55, a bullish breakout might occur going towards 130.80 and 131.00. Watch the price action at the POC zone for further cues.

The Analysis has been done with the Black Widow system.

Good trading,
Nenad Kerkez

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