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EUR/JPY Downtrend is Strong but Watch for a Pullback

By:
Nenad Kerkez
Published: Mar 23, 2021, 11:41 UTC

The EURJPY is strongly bearish. We could see a pullback which could get the price towards the POC zone.

EUR/JPY Downtrend is Strong but Watch for a Pullback

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The EURJPY is strongly bearish. We could see a pullback which could get the price towards the POC zone.

The POC in the EJ comes within 129.70-80. 1-2-3 could form just there and if that happens new sellers will join. Selling pressure should continue towards 129.35, 129.92 and possibly 128.55. We can also see the W H4 camarilla pivot and the trend line which constitute a confluence for fresh selling. Watch for a move up then new selling.

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For a look at all of today’s economic events, check out our economic calendar.

Cheers and safe trading,

Nenad

 

About the Author

Nenad Kerkezcontributor

M.Ec. Nenad Kerkez aka Tarantula is Elite CurrenSeas Head trader and a valued contributor to many premium Forex and trading websites.

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