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EURJPY 2 May 2023

EURJPY 2 May 2023 on the H4 timeframe, it can be seen that the pair rose quite high after experiencing a bullish trend since last weekend. When referring to the stochastic and MFI indicators, it can be seen that the pair is at saturation point due to overbought. Because of this, it is likely that a trend reversal will occur, if that happens then go-short can be an option. On the other hand, if this pair is able to survive and continue the bullish trend, go-long is an option. Trade with your own risk.

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