Eujpyanalysis
DeGRAM | EURJPY accelerating downwardsEURJPY could not break the major structure resistance level of 136.500.
Bears pushed the price to lower levels and it's gaining some momentum.
We anticipate the price to break the support level of 134.000 and go further down to 133.000.
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EURJPY - FORMING A POTENTIAL HEAD & SHOULDER PATTERNEURJPY has shown some weakness this past few days and failed to trade higher above its previous weekly high (PWH). We saw a break and retest of Aug 6 PWH, down to a level (124.426) acting as support.
I expect to see a potential head and shoulder pattern formed which will also give us an opportunity to short this pair @ 125.376 level, pushing price lower down to 123.000.
Entry level : 125.376 || 125.576
Stop loss @ 125.859
Tp1 : 124.000
Tp2: 123.000
Happy Trading Week.