Daily Market Analysis 12|05|2020: EURJPYMay 12, 2020 2020-05-12 8:52
Daily Market Analysis 12|05|2020: EURJPY
Buy position is envisaged if price trades above 116.657 with take profit at 117.159
Sell position is envisaged if price trades below 116.340 with take profit at 115.944
No major economic data expected today
Comment: Technically the instrument look to surge upwards. On the H1 we see that there is a strong resistance limiting the instruments upward surge, this resistance has been tested and at the moment going for a retest. On the H4 we also see the instrument broke the 50EMA and looks to test the 200EMA, if this resistance is broken on the H1, the instrument would look for a higher resistance to settle.
Analysis: SCRUM Team