On this pair, there was a shallow bearish retracement on April 16. In contrast, there is a weak short-term bullishness owing to the fact that price made some effort to go upwards last week, gaining only 80 pips. It might go upwards this week, to corroborate the recent bullish effort in the market.
However, the price would be able to go above the supply level at 107.50; even reaching other supply levels at 108.50, 109.00 and 109.50. There is some bullish expectation on JPY pairs this week, which could see some rallies on them.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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