EURJPY: Analysis
- Downtrend is getting weaker as price is struggling to make a lower low
- Price is currently at a weekly resistance so therefore; it's a bit of a premature entry for a buy
- As price is on a downtrend we would feel comfortable selling but need further confirmation on the H1
- The support level has been held since 2016 and price has touched it more than 3 times with a false breakout dating back to 2016.
--- Wait for confirmation candle ---
- Price is currently at a weekly resistance so therefore; it's a bit of a premature entry for a buy
- As price is on a downtrend we would feel comfortable selling but need further confirmation on the H1
- The support level has been held since 2016 and price has touched it more than 3 times with a false breakout dating back to 2016.
--- Wait for confirmation candle ---
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.