Here's my take on the EURJPY market, from the technical perspective.
On the daily time frame, price action was in consolidation for much of last week, after a bullish move on Monday. Much likely, bulls may take price action to the immediate horizontal resistance around the 125.500 area in the early part of this week. However, on the medium term basis, the technicals on the weekly time frame are in favour of bears.
I am bearish EURJPY in the medium term; so I will wait out the early price action this week . I may be wrong. Trade safe and prosper.
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