#EURJPY 1DAY
On the EUR/JPY daily chart, the price is testing a significant resistance level. This area has historically acted as a barrier, where selling pressure increases, preventing the price from moving higher. The resistance level suggests that the current uptrend may stall or reverse, creating a potential opportunity for sellers.
Forecast: Sell
A sell opportunity is anticipated as the price approaches the resistance zone. Traders may consider entering a short position if the price is rejected from this level, with a downside target toward previous support areas. It is essential to wait for confirmation of the price failing to break above resistance to avoid false breakouts.
Forecast: Sell
A sell opportunity is anticipated as the price approaches the resistance zone. Traders may consider entering a short position if the price is rejected from this level, with a downside target toward previous support areas. It is essential to wait for confirmation of the price failing to break above resistance to avoid false breakouts.
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