EURJPY upside continuation after the bounce and retest
EURJPY has broken above the 126 resistance and has retested it. A confirmed break above 126.60 is required for an upside continuation higher. A rejection here and a break below 125.80 could lead to a deeper pullback to 123. The overall medium-term is an uptrend but we need this break above 126.60 confirmed for a high probability upside continuation. As long as the EURJPY is above 125.50 there is a high probability that it will have an upside extension targeting 130.
Note – We are inclined to long trade entries with the stop loss below 126.
If you want to learn trading analysis and how to get to key trading levels like in this article register for Private Live mentoring with your trading evaluation.