Fade into the rally with a tight stop on EURJPY

EURJPY - Intraday - We look to Sell at 142.40 (stop at 143.30)

Although the bulls are in control, the stalling positive momentum indicates a turnaround is possible. Previous resistance located at 142.38. This is negative for short term sentiment and we look to set shorts at good risk/reward levels for a further correction lower. The current move higher is expected to continue. We therefore, prefer to fade into the rally with a tight stop in anticipation of a move back lower.

Our profit targets will be 139.80 and 136.70

Resistance: 144.30 / 147.30 / 150.00
Support: 139.60 / 136.70 / 134.35

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Chart PatternsecbEUREURJPYeuroeuroyenTechnical IndicatorsjpyTrend Analysisyen

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