By Admiral Markets
The EUR/JPY is still bearish despite the spike that happened just after the BOE conference today when the move in equities also moved the EUR/JPY. As long as the price is below 134.65 we could see 134.10 and 133.52. There is still an impulse to the downside as I showed on Real Time Trading Ideas today. Spikes could probably be shorted and the target is 134.08. if the price breaks 134.00 next targets are 133.89 and 133.52. Only above 134.65 the pair could turn bullish targeting 135.19.
W H1 -. Weekly Camarilla Pivot (Interim resistance – Weak)
W H2 – Weekly Camarilla Pivot (Weekly resistance)
W H3 – Weekly Camarilla Pivot (Weekly resistance – main)
W H4 – Weekly Camarilla Pivot (Strong Weekly Resistance)
W L4 – Weekly Camarilla Pivot (Interim support – Strong)
W L3 – Weekly Camarilla Pivot (Interim support – Main)
W L2 – Weekly Camarilla Pivot (Interim support)
W L1 – Weekly Camarilla Pivot (Interim support – Weak)
POC – Point Of Confluence (The zone where we expect price to react aka entry zone)
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Article by Admiral Markets
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