EURJPY FORECAST - Preparing for a bounce
EURJPY is currently in a downtrend on the Daily and 4H, with price nearing the bottom of the daily consolidation zone.
We expect price to continue to S2 where it will either bounce back towards R2 or break lower towards S3.
Confirmation of this bounce is given by a break of the upper band of the trendline channel.
However, until then price is bearish.
We expect price to continue to S2 where it will either bounce back towards R2 or break lower towards S3.
Confirmation of this bounce is given by a break of the upper band of the trendline channel.
However, until then price is bearish.
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