EURJPY 4H

5 May 2020

We are right at a key support/resistance line. This looks to be acting more as a support the last couple of months. However, we are currently retesting a break of the major trend line. Wait for the next couple of 4H closes to determine potential direction.

5 May 2020

Not

This fell pretty hard vs a break above. We are now at the top of the descending trend line where a reaction is likely. This could potentially head back up to the untested break area highlighted. However, this pair is pretty volatile in terms of price swings. So, caution is important.