USD/JPY rose to the resistance of the 50-week MA at 106.00. The pair is not at the resistance line since the end of December.
Trade ideas for EUR/JPY
Information is not investment advice
EUR/JPY formed a “hammer” candlestick on D1. This is a sign of a potential short-term correction to the upside. Notice though that you have to be careful with a counter-trend trade like this as bears still dominate the market. Buying is possible above 122.30 with a target at 122.75 (the declining resistance line). If EUR/JPY falls below 122.05, it will likely revisit the recent low.
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