Lingrid | EURJPY Long from the Potential DEMAND zone for FX:EURJPY by Lingrid

Lingrid | EURJPY Long from the Potential DEMAND zone

The price perfectly fulfilled my last idea. It hit the target. broke below the January and December lows, testing the psychological level at 157,000. It reached the demand zone around 156,000 - 157,000. Based on this, I expect the market to move higher, potentially reaching the January low. On the daily timeframe, it becomes apparent that the overall price is trading within a consolidation zone, with the current price having reached the bottom of it. Consequently, I anticipate a rebound from the bottom of the zone and downward trendline, indicating a potential upwards momentum. My goal is resistance zone around 159.700

Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩‍💻

Lingrid

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