Euro / Japanese YenShort
EURJPY / 4H / POTENTIAL DOWNSIDE
Updated
We're seeing potential further downside on EURJPY with a handful of factors that are currently providing confluence.
We've retraced to the 61.8 fib level which coincides with our resistance fractal. This is further supported by our downward trendline and what is potentially a wedge that is forming. It is still too early to enter and we must wait for the price action to develop accordingly along with the wedge to break. Keep a close eye.
We've retraced to the 61.8 fib level which coincides with our resistance fractal. This is further supported by our downward trendline and what is potentially a wedge that is forming. It is still too early to enter and we must wait for the price action to develop accordingly along with the wedge to break. Keep a close eye.
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