The EURJPY has broken its previous support and has created a lower high wave for its bearish channel. Upon the opening of the Tokyo session, it also formed a rejection candle by retesting the previous resistance zone. This suggests that the pair is likely to begin dropping soon. Although the market is in our favour, I am still hoping that it could retest the FIB 0.5 level before experiencing a significant drop.
Trade active
FIB 0.618 retested:Note
If you haven't entered:Note
Closed at the entry:
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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.