=> Tendency: BULLISH
=> Technicals: Breakout strategy - Pullback and retest
=> Fundamentals: US DOLLAR and JPY strength is a possible risk.
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I think this chart shows everything well. We have a nice upwards channel that has formed and in the previous moves the past resistance has been respected as the new support. The lower trend line also seems to act as a nice point of support.
My prediction is that price will come down once more to find support in the S/R area at around 121.200 and on the trend...
50day MA rejection
Support area rejection- this is the 50% fib retracement from the downtrend starting in April 2019
continuation pattern forming- price created a new daily low to help form this pattern
Having tested the trendline two, EURJPY looks more likely to attempt touching it again before a reversal can occur to the upside. 118.450 - 118.470 region look a possibility level bulls are lurking around for the pair on the daily timeframe.