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EUR/JPY Breaks Support, Retests Zone as Resistance

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forexbrokr.
@forexbrokr
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Direct from the desk of Dane Williams.



Just starting the day by flicking through my MT4 watchlist to search for some new trade opportunities and boy, is there a lot happening!

I've had my tunnel vision goggles on this last week or so focusing my attention away from forex markets and it looks like I've missed a few market turns at key higher time frame support/resistance zones.

One such zone we had been watching was EUR/JPY approaching support on the daily chart.

Take a look at where price is sitting today.

EUR/JPY Daily:

You can see price has gone through support and this time retested it as resistance.

Now it's printed a couple of daily bearish candles, it looks like the bears have taken control and I'd now rather be playing from the short side as a result.

Zoom into your intraday charts and find obvious areas of short term support turned resistance to get short off.

Best of probabilities to you,

Dane.



FOREX BROKR | Hive Blog Higher time frame market analysis.

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