EURJPY have been trading in a wide range channel since march. price have been bouncing off resistance at 137.37 and support at 126.90.
price is trending down nicely from resistance and we want to assume that price is heading towards the support at 126.90.
presently, price has created an impulsive wave after the bearish gartley hit its fib target. we are waiting for price to hit a very good level for us to get in and trade south.
I will be watching price action at 133.00 level, its a strong level base on the following convergence.
a. 61.8 fib level
b. possible TL bounce
c. good s/r level
we wait patiently for Plan to tank
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