EURJPY is testing the downside reversal key level
EURJPY has broken below the rising long-term wedge support line 131 but still without confirmation. It has bounced off the 129.70 support for another swing price action inside the short-term wedge it seems. Now only a break below 129.70 will lead to a bigger pullback lower and a test of 126.70. We could still be in the 4th wave before a 5th wave final swing higher. For the upside extension of this bounce, we need to see a confirmed close above the 131.80
Note: you can take the long trade with the stop loss below 129.70. If the trade would be stopped reverse to a short trade.
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