The legend in the InstaSpot team!
Legend! You think that's bombastic rhetoric? But how should we call a man, who became the first Asian to win the junior world chess championship at 18 and who became the first Indian Grandmaster at 19? That was the start of a hard path to the World Champion title for Viswanathan Anand, the man who became a part of history of chess forever. Now one more legend in the InstaSpot team!
Borussia is one of the most titled football clubs in Germany, which has repeatedly proved to fans: the spirit of competition and leadership will certainly lead to success. Trade in the same way that sports professionals play the game: confidently and actively. Keep a "pass" from Borussia FC and be in the lead with InstaSpot!
We have seen the expected minor rally to test resistance at 163.64 and should now see renewed downside pressure towards 162.13. A break below will confirm that wave 3 has peaked and wave 4 is unfolding. As wave 2 was a flat correction, we should see wave 4 being a zig-zag correction or a series of zig-zags as in a triangle. Triangle consolidations are very common for the JPY crosses.
Once minor support at 162.13 is broken, the next support to look for is seen at 161.50 and then at 159.80 as EUR/JPY is moving closer to the lowest target at 157.94 and likely closer to the 38.2% corrective target at 154.00.
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