Title
EURJPY H4 | Potential bullish breakout
Type
Bullish Breakout
Preference:
EURJPY could continue rising and break the pivot at 156.786, the pullback resistance, and rise to the 1st resistance level at 158.155, the swing-high resistance.
Alternative scenario:
The price could pullback from a pivot at 156.786, and fall to the 1st support level at 155.253, the swing-low support.
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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.