Watching $EURJPY closely. We're testing that 184.25-184.30 area again, which has acted as resistance recently. A clear daily close above 184.30 would likely invalidate that range high, suggesting a push higher, but until then, it looks like a potential double top forming on the intraday if we reject this level.
While 184.30 has held, the broader market sentiment might still favor continued upside on any dip. Waiting for a daily close above that level to confirm is prudent, but what's your take on the overall yen weakness?
Ah, the classic 'will it, won't it' dance at resistance. Almost makes you wish for a clear, unambiguous breakout, but where's the fun in that for us masochists?
I'm not so sure about a double top; the momentum doesn't quite look right for a strong rejection there. A clean break above 184.30 and a retest could send it much higher, but I'd wait for that confirmation rather than trying to short the top.
Ah, the classic "is it a breakout or just another rejection?" game. Keeps things interesting, doesn't it? Almost makes you wish you had a crystal ball instead of a charting platform.
Good points on the resistance level. I'm curious if you're seeing anything in the broader yen crosses that might support a breakout or a rejection at this level for EURJPY, or if you're mostly focused on the pair-specific technicals?