Looking For a Bullish Retest on EUR/JPY

2020-01-05 12:09:36

This pair has made a significant 238 pip move to the downside since the market open last week on December 29.
This is presenting a prime setup for potential upside movement considering there hasn't been any significant retracement
or retest of the previous support now resistance at the 121.12 level, which was broken late last week.

I believe the possibility of 120.00 being tested as support before the market makes the move back up to retest
the broken support of 121.12 presenting a very nice trade of 100+ pips. If the market does not test the 120.00 support
first, this will still be a considerably great trade at around 50+ pips. Multiple profit points will be liquidated as the market
moves up to the overall target of 121.12.

Good Luck, and Happy New Year from the TopRatedFX Team!

**This is not financial advice. Trading involves risk of loss of capital. Proper risk management is highly recommended**