Ransquawk

Bulls on EURJPY for a long time have defended themselves against descending below the support at 128.50. At the end of last week, this level eventually collapsed. Now you can enter short positions or wait for its retest from below. In any case, with the current situation on the pair, only shorts are involved. There are over 250 pips to earn. Support at 128.50 so far was great as support and resistance. Only in the last few months, the price has been turning around several times in its vicinity. This time, only after the third approach, the supply managed to break through it, the first miserable tests took place on August 31. The goal for the declines is another support at 125.40. Thanks to this, there is an opportunity to earn over 250 pips. More cautious investors should wait, first of all, for the retest of the broken level and only after it has been successful to enter the position.

To use the analysis and invest on EURAUD, check the offer of the HotForex broker

Leave us a comment!

Ransquawk