Price has touched the resistance trend line (A) on 3 different occasions, on the 3rd touch we seen price show strong rejection therefore causing bearish momentum. Right now price is currently on its way to a support level (B). If price breaks this level (B) we can expect EURJPY to continue to drop with more bearish pressure.
Ichimoku Indicator:
-Potential red cloud about to form indicating bearish momentum.
-Red line has crossed above the blue line also indicating bearish momentum.
-The green lagging span line has also broken below the cloud indicating a potential sell.
To confirm the downtrend the support level (B) needs to be broken.
If you find this idea helpful...
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@Nhlanhlangwenya Thanks for the comment it’s much appreciated✌️💎
Lenguito_Forex
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Nice analysis, looking at the same possible short set up. If that does happen I will be playing it towards the 125.138 level for a potential long back up towards the short's original entry.
No words needed ! Very organised, consistent and disciplined! May 2021 bring all the success and wealth 🎊🙏🏾
fxpays
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@TRADESBYZION Thanks a lot brother your comment is much appreciated. I hope 2021 brings you lots of success and you accomplish your goals. Let’s make this year a great year✌️🥳