FX_IDC:EURJPY   Euro / Japanese Yen
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1
Daily -> Bearish
4H -> Bearish

- Strong Zone of Resistance formed and rejected off of multiple times
- Trend Line Opportunity
- Ascending Triangle Price Pattern Opportunity

Trade is in the direction of the Daily Trend

TP is below the current Daily Lower Low

The expectation is for price to make a NEW Lower Low on the Daily (Trend) timeframe


Comment: Nice Impulse down just now.
- Break of Descending 1H and 2H Triangle
- Break of 1H Line Chart Support

4H break of Diagonal Support (Trend Line) possibly en route
Comment: - 4H Candle close JUST NOW confirms broken 4H Trend Line.
- Today’s candle could print a bearish engulfing on the Daily timeframe.
- 2H line chart structure confirms downtrend price action. Lower High Created and Lower Low created
- Price is back into trend structure (Daily & Bearish)
- Expectation is for price to make a new Lower Low on the Daily Trend Structure
Comment: H4/Daily Zone respected, Stop Loss above the zone still in tact.

Nice bearish impulse just now on H4 through H1.

Price is now stalling a bit, where there was an inverse head & shoulders to the left on H4->H1. But the clues are still pointing to the downside.

Comments

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