Can we see it stopped again at the head & shoulders neckline?


Over time, eurjpy             was pushed up from the area of YPP (P) 128.637 and MPP (P) 128.786.
It will be stopped around 130.000 and the next week will be come.

Weekly Chart

130.000 is not only a round number but also a head & shoulders neckline, so it seems that there are many conscious traders.

(Also worried that for MA users 800 EMA and 1600 EMA are close?)

Even if it goes up or down it has a possibility to move greatly, it is likely to be a turning point.

as you can see,YPP (P) was penetrated several times last month and Month before last.
Therefore, we do not think much about support line.
However, since MPP (P) don’t have a lot of information to say that it is easy to be penetrated, attention is still necessary.

<< tactics >>
1) 130.000 functioned as a resistance line

The first limit is above 128.785.
The second limit is above 128.000. * Assuming that it can penetrate MPP (P) and YPP (P)

2) It is doubtful that 130.000 functions as a resistance
If it penetrate 130.000 and function as a support line, I will consider long.

I would be grateful if you like it idea,give me follow or agrees!

————————- <Legend> ————————–
Brown thick line: Yearly Pivot Points (YPP in the text)
Light blue thick line: Monthly Pivot Points (MPP in the text)
Green thin line: Weekly Pivot Points (WePP in the text)
Indigo thickLine: Horizontal line or Trend line seen by weekly or monthly
Indigo thin line: Horizontal line or Trend line seen by 4hourly or daily
Indigo dotted line: outstanding round number.

Red curve: EMA 20 close
Indigo curve: EMA 200 close
Green curve: EMA 800 close
Black curve: EMA 1600 close

x mark: Line which may not function
————————- <Legend> ————————–

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