EURJPY Breakout From the Triangle Pattern








The breakout from the triangle pattern looks completed with the local top at the level of 123.85. This top is labeled as wave -i- top, so now the market is developing internal intraday correction. The most important level is the weekly pivot at the level of 122.93 and intraday support at the level of 122.83. The bias remains bullish as there are unfinished waves to the upside.


Support/Resistance:
124.28 - WR1
123.85 - Intraday Resistance
122.92 - Weekly Pivot
122.83 - Intraday Support
122.04 - WS1


Trading recommendations:
Daytraders should still consider buying the dips in this market as the upward wave progression is uncompleted.





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pipsumo Traderfx

A forex trader who enjoy doing forex naked chart and make profit with forex expert advisor.Also enjoy to socialize with other forex trader in the world.