Blue Mind FX - Weekly Analysis EURJPY

EURJPY is showing clear intent to continue advancing further up pending it can clear the current sell orders in this zone. We can see a fairly clear Elliot Impulse Pattern and I would expect price to hit the last part. Should price fail to break above the sell zone though at 122.400 area we could see a retest of the support at the 121.310 area. I am bias to believe though that price should reach the 124.400 area.

Remember that we are currently in a period where most of the main market movers will be less active. That said people still need to buy money and orders will still need filling, so for now we will assume technical analysis will hold up.

These are purely analysis for the week leading 29th December 2019 and should not warrant any trade actions. They are purely for analysis and technical reference for you to put your own trading ideas to.

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