The EUR/JPY has started a retracement from the confluence of two important camarilla pivots. We might see a move lower.
122.55 – 65 zone is showing new bears which might be taking over bullish trend. The price has started to move lower and this is a retracement. M H3 121.18 and W H4 121.22 are the first possible retracement targets. If it breaks lower then pay attention to W H3 – 120.45 which could be the final target. Only a close above 123.00 could invalidate this scenario.
The Analysis has been done with the CAMMACD.Core and Sit Systems
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This article was originally posted on FX Empire
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