EUR/JPY rejects channel resistance - short for target 129.50
EUR/JPY is steaming up with heaps of bearish indications by bearish candles and leading oscillators in addition.
It has rejected the channel line resistance several times in the recent past at 133.764.
Most probable scenario: More downside potential towards 1st target - 132.500, on break below those levels can drag towards 129.50 and even up to 128.05 levels in medium term.
Adverse scenario: Alternatively, if the pair manages to seize any good hints and post some abrupt rallies can be possible maximum upto 133.50 which would again be channel line resistance.
It has rejected the channel line resistance several times in the recent past at 133.764.
Most probable scenario: More downside potential towards 1st target - 132.500, on break below those levels can drag towards 129.50 and even up to 128.05 levels in medium term.
Adverse scenario: Alternatively, if the pair manages to seize any good hints and post some abrupt rallies can be possible maximum upto 133.50 which would again be channel line resistance.
