I posted this trade idea last week and the bulls stepped in at 131.840 support as mentioned in my post, taking the pair up to 134.40 resistance. The pair then sold off at resistance ending the week close to the support at 131.840 again on Friday. I will once again keep and eye on this support area and how the market will behave. Keep in mind that the JPY election is next week, so we may see some volatility this week or the pair may consolidate again. A daily close below 131.840 should open to 128.40 and if bulls step in again, it will once again go to resistance or higher. The 131.84 handle remains an area to watch this coming week.

EURJPY FOLLOW UP 15 OCT

Source: MARYNA

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