We already
know of the fast drop that the EUR/JPY suffered to the 109.37 level during the
Brexit events. After that low, the price bounces to the upside and it has
retraced to the 114.82 level as shown on the daily chart. The 114.82 level may
possibly act as resistance and the price may go back down from there. However,
if the price continues rallying, then the 116.00 level may also act as
resistance. The most important support at the moment continues being the low at
the 109.37 level.
Looks like is making a bearish flag.
ReplyDeleteVery interesting! Thanks!
ReplyDeleteThank you for the analysis.
ReplyDeleteGreat analysis as usual.
ReplyDeleteStill inside the consolidation range.
ReplyDeleteInteresting article!
ReplyDeleteIt looks like it's forming a flag.
ReplyDeleteVery well explained, thank you for sharing!
ReplyDeleteGood analysis.
ReplyDelete