ej2-1024x391EUR/JPY moves in an upward correction (H1). It seems, that price today should approach the resistance level. As we can see it is important zone, which was tested successfully in the past – as a support and also resistance. It generated strong downward rebound during the latest test. It is worth to wait for the approach and then open a transaction that follows the current, bearish trend.

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Member and editor of Finance Magnates - the biggest FX, and binary options B2B website. A graduate of the University of Economics in Krakow, active publicist since 2012. Technical analysis is always more important to him than the fundamentals – however, he does not reject the importance of macro data. As he assumes that, the simpler the better, he is a strong fan of Price Action trading strategy and Fibonacci retracements.