Hello Price Action Traders.
The EUR/JPY extended gains Friday making a spike above the 137.70 level but closed below it for the third consecutive day. In addition, the pair formed a little Pin Bar after an Inside Candle showing some signs of weakness. Looking at the Price Action, this could be an opportunity for a sell if the price turns back below the previous low. Keep in mind, however, that there will be the ECB’s Interest Rate decision this week.
It’s all for today
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Luigi Bazzarelli, Professional Trader member of HereForexNaked.com