The EUR/JPY is experiencing a brief pullback in an uptrend. Price is now currently in the POC zone and is encountering strong support levels.
The POC zone is 121.77-87 [4/8, D L5, W L1, Middle HTF Bollinger Band, ATR L3 and FR 38.2]. The trigger cue is given as price has made a T-89 rejection pattern from the 89 EMA. Targets are 122.46 [7/8, D H3, Swing High] and subsequently 122.65 [8/8, W H3] should price continue to stay above 121.60 [3/8, W L3 and FR 50]. Sentiment for EUR/JPY will turn bearish if price breaks below 121.50 [2/8, FR 61.8].
The analysis has been done with the CAMMACD.MTF template.
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Many green pips,
Davin Wu aka AmbitionFX
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