Euro / Japanese YenShort
EUR/JPY BEARISH
Updated
1M
Previous months have been bullish candles, this month’s current candle is a huge bearish engulfing, which has taken out 5 candles if we close any lower.
1W
EMA have now crossed to the downside. Last week’s candle retested the resistance level of 132.000, which closed below.
1D
Today’s candle has tested and rejected both the EMA and the Monthly 132.000 resistance. This same candle also closed as a bearish engulfing, after yesterday’s bullish engulfing. EMA pointing to the down side again.
4H
The 50% fib level lines up perfectly with the monthly 132.000; which was tested by 4 candles which eventually was engulfed by the last bearish candle. EMA has crossed back over to the down side, followed by a CTL break. Target at next major support level.
Previous months have been bullish candles, this month’s current candle is a huge bearish engulfing, which has taken out 5 candles if we close any lower.
1W
EMA have now crossed to the downside. Last week’s candle retested the resistance level of 132.000, which closed below.
1D
Today’s candle has tested and rejected both the EMA and the Monthly 132.000 resistance. This same candle also closed as a bearish engulfing, after yesterday’s bullish engulfing. EMA pointing to the down side again.
4H
The 50% fib level lines up perfectly with the monthly 132.000; which was tested by 4 candles which eventually was engulfed by the last bearish candle. EMA has crossed back over to the down side, followed by a CTL break. Target at next major support level.
Note
SL has been moved a little above break evenTrade closed: target reached
Target Hit
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