Day by day Pivot Issues: (S1) 120.59; (P) 121.28; (R1) 121.65; Lake….
The EUR / JPY damage with 120.58 strengthen means that the corrective restoration of 119.31 is finished at 121.96, sooner than 122.11 resistance. Intraday bias is again at the backside once more for 119.31 strengthen first. Ruin will resume the decline from 124.43 to 61.8% retracement from 114.42 to 124.43 at 118.24. At the upside, the fraction of 122.11 will declare that the decline of 124.43 is whole. A more potent upward push would retest 124.43.
Within the larger image, the entire downward pattern of 137.49 (2018 top) will have ended at 114.42. An build up of 114.42 would goal a retracement of 61.8% from 137.49 to 114.42 at 128.67 thereafter. Chronic pause there’ll pave how to 137.59 (top in 2018). This will likely stay the most popular case in the meanwhile, so long as the 55-day EMA (now at 119.60) applies. Then again, a sustained 55-day hiatus from the EMA will revive medium-term bearishness to backside out beneath 114.42 at a later level.
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