Euro / Japanese YenShort
Bearish EURJPY on watch
Updated
- Price closed just below the Monthly Res: 127.00 & 50% Fib
- Spinning Top PA setup @ Monthly Res & 50% Fib.
- Current candle very near to descending inner trendline.
Potential Flip Zone. Waiting for signal to short
- Spinning Top PA setup @ Monthly Res & 50% Fib.
- Current candle very near to descending inner trendline.
Potential Flip Zone. Waiting for signal to short
Note
Price fall lower slightly and goes into consolidation.Daily Timeframe shows Inside Bar Formation, I'll be cautions with this bearish mode. Euro price is on the rally thus EurJpy potentially rally higher to retest the falling Inner Trendline (red)
Note
Price is still in the falling mode, being quite a slow and choppy move recent month. I have not been too active recently due to the market slow pace (of course I mean it from my own trading perspective and trading strategies) Anyway, price is looking good for EURJPY which approaching our Target 1 around the Monthly Support: 120.00 with Fib Level (-27.0%) extension giving an extra confident of the target area.
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.