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EurJpy: Road to 124?

Weekly Time Frame:

Daily Time Frame


EurJpy: Current Price 121.025, hovering around 121.000 key psychological zone if price breaks above we can anticipate 124.000 key psychological.

The monthly time frame is showing signs of a morning star reversal formation as it is testing strong areas of resistance with the cross of our weekly moving averages. Though we did close off a strong daily engulfing, we need to hold off for added confirmation/confluence for a clear directional bias.

(Risk management is key trade safe!)

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