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HarrisonForexx
Jan 23, 2021 10:54 AM

EUR/JPY - SHORT | HP Rating: 10 Short

Euro Fx/Japanese YenFXCM

Description

Firstly, HTF gives us key areas of price action. We can see on HTF that we have lost momentum moving towards the DT and have formed a larger expanding channel, which has broken impulsively. Although we have had a retest of this break area, the LTFs are showing signs of exhaustion and reversal. With a tight corrective, ascending channel it is a high probability we have a break of the phase line to continue to the downside. Clear profit target and a move which could offer scale ins also, although possible to reach the DT area again, the other factors outweigh this massively on how price action is moving.
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