EURJPY is Testing 6-Year Trend
Burc Oran
December 8, 2020
EURJPY | Monthly Chart
EURJPY | Monthly Chart

EURJPY is currently testing 6-year downtrend which is near the 126.50 level. Also, a massive horizontal resistance line is near 127.

EURJPY | Hourly Chart
EURJPY | Hourly Chart

126.50-127.10 resistance zone can be key for the future direction of the EURJPY. As long as the price closes below that zone, EURJPY may reverse to the downside. For short-term moves, 125.68 can be followed as support. Below this level, the price may get back around to the 124.50 level.

A break to the upside means more bullish pressure for EURJPY in the medium-term.

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