EUR/JPY
This cross was able to continue its bullish journey yesterday – though that was a slight movement. Price is now close to the supply level at 126.50 (and it has tested it). It may even breach it to the upside, but there would be an eventually reversal, to go along with the bearish outlook on the market.
This week, a bearish reversal is expected, because of the weakness in EUR and owing to the bearish outlook on JPY pairs. The bearish reversal would enable sellers to enter short at some sensible prices (only if it occurs)
