EURJPY Chart Technical Outlook a dangerous area to open a new trade
The four-hour chart highlights the pair moving higher within the CD leg of a Crab formation. This leg will be confirmed on a move through the previous swing high of 171.60. The 8-hour chart highlights the cross-stalling close to the 88.6% pullback level of 170.72. This is a common retracement for the BC leg in a cypher formation.
In conclusion, with higher highs and higher lows the outlook is mildly bullish. However, I would consider current price as a dangerous area to open a new trade. Bespoke support is located at 169.37.
