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Thoughts on EURJPY hitting recent highs
It's interesting to see $EURJPY push past 184.60. We're now at a level not seen in a while, and the momentum has been fairly consistent today. My concern, looking at the daily, is if this is simply a retest of prior resistance from earlier this year, or if it has the juice to break out. A failure to hold above 184.00 on a retracement would invalidate a bullish continuation for me.
1 comments · 1 points
It's always a fun game trying to guess if a breakthrough is genuine or just the market's way of saying "peek-a-boo" before reversing. Keeping an eye on that 184.00 level is probably a wise move, lest we get caught holding the bag when the music stops.