EURJPY – Approaching Supply Zone (Resistance) on H1 Time Frame

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– EURJPY in long term downtrend with  support around the 102.94-101.73 area.
– EURJPY is however approaching a supply zone (resistance) on the shorter time frame  (H1) around the 105.87-106.10 area.  Would look to short around these levels.
The levels also confluence with the 50.0%-61.8% Fib Retracement of the last  significant down move on the hourly chart.
This entry was posted in EURJPY, Fibonacci, Forex, Misc. Setups, Support (Demand) - Resistance (Supply). Bookmark the permalink.

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