What will EURJPY do ?, 4hr

7월 24일

We have been having a lot of buying momentum on EURJPY for the past few weeks. The weak Yen gave Euro enough strength to push up and make new highs. We can expect more buying momentum from EURJPY as it has been consistent in being a long term bullish pair.

But when something goes up eventually it will go down. With the strong bullish momentum the market needed to breath and make a correction before the impulse movement can happen again. Last week EURJPY fell very hard to the support zone of the uptrend. Price action says we are going to buy but all eyes on EURJPY on its next move because anything can happen.