As of Friday’s close (27/7/2018), EURJPY has traded back to the previous high of the previous wave and this previous high happens to show confluence with the 50% Fibonacci Retracement levels. It could be possible for the pair to trade higher from this area, however, the lower timeframe hasn’t shown much bullish strength and it would be better to wait for more bullish price action before entering a trade.
Monthly Levels: Represented in Red
Weekly Levels: Represented in Blue
Daily Levels: Represented in Black
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