Euro / Japanese YenShort
EUR/JPY IS IN A SHORT TERM BEARISH MOVE
Updated
The price is in long term uptrend channel, signal for long term upside move.
At the upper trendline R 122640 level, at this level the pin bar bearish candle is identified and formed the base zone and the price reversed in a strong short move to form Rally-Base-Drop.
At the support level 121.064 the price reversed in a long move to test the zone,
signal for a reversal(short sell order towards S 121.064 level and this should be the short time profit target.
Watch properly the price action and candle formation at the support 121.064 level in case it break it,
the next support level 120.275 is our TP2
P.S: do ur own analysis for ur order decions
cheers.....
At the upper trendline R 122640 level, at this level the pin bar bearish candle is identified and formed the base zone and the price reversed in a strong short move to form Rally-Base-Drop.
At the support level 121.064 the price reversed in a long move to test the zone,
signal for a reversal(short sell order towards S 121.064 level and this should be the short time profit target.
Watch properly the price action and candle formation at the support 121.064 level in case it break it,
the next support level 120.275 is our TP2
P.S: do ur own analysis for ur order decions
cheers.....
Note
As mentioned the Tp1 is reached at support level 121.064
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