Title
EURJPY H4 | Breaking the support level?
Type
Bearish breakout
Preference:
EURJPY could continue with the downtrend and break the pivot at 156.201, the pullback support, the price could then fall to the 1st support level at 153.874, the multi-swing-low support.
Alternative scenario:
The price could rise to the 1st resistance at 158.509, the swing-high resistance.
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Desmond Leong runs an award-winning research firm (The Technical Analyst finalists 2018/19/20 for Best FX and Equity Research) advising banks, brokers and hedge funds. Backed by a team of CFA, CMT, CFTe accredited traders, he takes on the market daily using a combination of technical and fundamental analysis.