EJ Weekly Analysis

Weekly: Previously, the pair has rejected off key support 127.250 and formed a Pin Bar, indicating a potential reversal or a corrective rally. The rally has challenge key resistance 130 but failed to break above to invalidate the downtrend. To confirm the continuation of downtrend, a clear rejection on 128.500 is needed. The downside target would be 127.250 where it is expected to find some support and further down is 124.750.
Bias
Long-term: Short
Short-term: Short