EUR/JPY Retesting Confluence of Support. A Catalyst for new Highs?
Good afternoon traders, As EUR/JPY continues higher, lets take another look at this highly popular forex cross: The daily chart shows price clearly respecting bullish trend line support and on its way up, after consolidating sideways for a bit, broke out through swing high resistance. From here, I’ve marked the touch where price pulled back to retest broken horizontal resistance as support (with added confluence of support where the horizontal and trend lines intersect), before moving higher again. Now zoom into an intraday chart and things get even more interesting. You can see that price is once again pulling ... (full story)