EURJPY Long
Looking at the weekly chart we can see an inverse head and shoulders forming, Price is currently at the top of the right shoulder, in my eyes this a bullish sign
Moving down to the daily chart Friday's candle formed an engulfing candle confirming that long bias
On the 4 hourly chart the 50 EMA has been broken also price has broke thought previous resistance level of 124.84 and made a higher high more confirmation of a long bias
I will now be looking for a buying opportunity I believe the price will come down to retest this previous resistance level which is now support, I will be looking for a buying signal around this price level i.e engulfing candle, pin bar candle etc
updates to follow
Moving down to the daily chart Friday's candle formed an engulfing candle confirming that long bias
On the 4 hourly chart the 50 EMA has been broken also price has broke thought previous resistance level of 124.84 and made a higher high more confirmation of a long bias
I will now be looking for a buying opportunity I believe the price will come down to retest this previous resistance level which is now support, I will be looking for a buying signal around this price level i.e engulfing candle, pin bar candle etc
updates to follow
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