Sell EUR/JYP
- Thread starter CMS
- Start date
- Watchers 4
Interestingly, this cross has managed to remain in the bulls’ territory, in spite of the current equilibrium forces in the market. A long trade is still preferred, and the price is not expected to go below the demand zone at 129.00. The weekly target remains at the supply zone of 131.00.
I think by now it is obvious even to the newbies that we saw a major reversal trade starting on Thursday and we are likely to keep the correction course intact for a while longer. We saw a violent move higher and a correction is normal as well as required if this pair wants to continue to rally.