The EURJPY is back on the watchlist as the only EUR related pair. Zoom out to the daily and you see the downward sloping price channel. Last week it found resistance at the upper side of the channel at 132.
We are watching 130 closely. A break of 130 could lead to additional bearishness and kick off the next bearish wave. Ideally we'd like to see a bullish wave first that would (1) trap premature buyers and (2) print a momentum divergence. We'll watch both scenarios closely - along with the outlined USDJPY setup.
We are watching 130 closely. A break of 130 could lead to additional bearishness and kick off the next bearish wave. Ideally we'd like to see a bullish wave first that would (1) trap premature buyers and (2) print a momentum divergence. We'll watch both scenarios closely - along with the outlined USDJPY setup.
I have been trading for 15 years!
> Trend Rider indicator: tradeciety.com/trend-rider-indicator/
> Free weekly trading webinar: tradeciety.com/webinar/
> Free blog: tradeciety.com/blog
> Trend Rider indicator: tradeciety.com/trend-rider-indicator/
> Free weekly trading webinar: tradeciety.com/webinar/
> Free blog: tradeciety.com/blog
Related publications
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.
I have been trading for 15 years!
> Trend Rider indicator: tradeciety.com/trend-rider-indicator/
> Free weekly trading webinar: tradeciety.com/webinar/
> Free blog: tradeciety.com/blog
> Trend Rider indicator: tradeciety.com/trend-rider-indicator/
> Free weekly trading webinar: tradeciety.com/webinar/
> Free blog: tradeciety.com/blog
Related publications
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.