EUR/JPY Price Analysis: Bears looking for a restest of 129 the figure

EUR/JPY bears are lurking in weekly resistance.
129 the determine guards a deeper retracement to the weekly W-formation’s neckline.
EUR/JPY is stalling on the upside and the bears are lurking, awaiting a correction. The following illustrates the outlook from the bearish viewpoint which leaves 129 the determine exposed.

EUR/JPY month-to-month analysis

The month-to-month chart is correcting to a 38.2% Fibonacci retracement of the prior bearish impulse. This may want to maintain and lead to a draw back continuation deeper into the guide zone.

EUR/JPY weekly chart

The W-formation on the weekly chart is additionally compelling. The formation is a reversion sample and leaves the neckline uncovered close to to 128.40.

EUR/JPY every day chart

On the day by day chart, the fee is already stalling and the 38.2% Fibi is aligned with the historical shape close to 128.90.

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