francesgurton

EUR/JPY hitting resistance

FX:EURJPY   Euro / Japanese Yen
EUR/JPY is hitting support at around the 121.90 level.

We could expect the price to break through this level of resistance or we could expect the price to hit resistance and then pullback to support at the 120.489 level, creating a short term sell opportunity.

Both the MACD and the RVI are yet to show signs of the price potentially pulling back and so it may be more probable that price will break through resistance. I will be waiting for confirmation of either a breakthrough the resistance level or if the MACD and RVI show signs of a pullback and short term sell opportunity.

I am new to trading, I am open to any feedback.

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