EURJPY is testing strong resistance at 128.60-70 area, as it is testing the trendline from November highs.
As we mentioned in our yesterday's idea an inverted H&S formation is in the making and a larger H&S right shoulder might be in process at the daily chart.
We are Buyers at current levels although it is testing resistance according to the Scenario 1 at the chart , but we are prepared to BUY again lower at the 128.00 area if the 2nd scenario occur.
Our target will be the 129.60-70 area.
As we mentioned in our yesterday's idea an inverted H&S formation is in the making and a larger H&S right shoulder might be in process at the daily chart.
We are Buyers at current levels although it is testing resistance according to the Scenario 1 at the chart , but we are prepared to BUY again lower at the 128.00 area if the 2nd scenario occur.
Our target will be the 129.60-70 area.
