Quick idea.
If EURJPY continues to balance above the short-term downside resistance line, this could attract the bulls back into the game and we may see the pair rising again. That said, if the risk-on environment changes to a risk-off one, then there might be a chance to see some increased yen-buying, which could push EURJPY back down again.
Please see the chart for levels and targets.
Don't forget your stop-loss.
If EURJPY continues to balance above the short-term downside resistance line, this could attract the bulls back into the game and we may see the pair rising again. That said, if the risk-on environment changes to a risk-off one, then there might be a chance to see some increased yen-buying, which could push EURJPY back down again.
Please see the chart for levels and targets.
Don't forget your stop-loss.
Note
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.