The EURJPY pair on H4 chart is in an uptrend, where at the beginning of the week was a resistance breakout at 124.50. Another wave of impulse was created.

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We currently see correction of this wave, which may give opportunity to enter a long position. The price reached formerly breached resistance at 124.50, which now holds as a support. Additionally, this level intersects with 20-period SMA providing dynamic support.

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