EUR/JPY: Short move is more likely. Medium term movement is short
Correction: up move until horizontal resistance at 126.6 and FIB level 50%
Horizontal and Diagonal resistance and price is just below the 200 SMA
Price Action: Engulfing Bar on H4 - signal for short
Sentiment: EUR is fundamentally weak. ECB just lowered the interest rates and that is negatively impacting the price of EUR.
Alternative scenario: If price move up and break above FIB 50% and 200 SMA, on retest buy for long.
Jr. Trader - S. Fuchedzhiev
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