EURJPY (Daily) SHORT IDEA: The END of the CONSOLIDATION PERIOD!
POTENZIAL PROFIT: SHORT UP TO 200 PIPS
TECHNICAL ANALYSIS:
-Since November 2015, in a Weekly analysis we can clearly see that the market has been moving inside a symmetrical triangle.
Back to the daily analysis, at the beginning of May, the price bounced on the symmetrical triangle support, getting strenght to move up in a strong up trend, reaching the main resistance level at about 126.617. Three long months of uptrend where the price never broke the ema 50, are a confirmation of the market's strenght.
-The resistance zone rejected the price many time and the 11th of September it fell down, bouncing on a daily support zone.
-Until the half of November, the price has been moving with a side trend but a period of high volatility and the increasing of the momentum, moved the price up, reaching again the main resistance zone.
CONCLUSION:
The price is actually in a consolidation period, moving just around the main resistance. This specific historical level is very important because reversed the market many times!
The price is also in an upcoming high volatility period, so I aspect soon a really great opportunity!
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TECHNICAL ANALYSIS:
-Since November 2015, in a Weekly analysis we can clearly see that the market has been moving inside a symmetrical triangle.
Back to the daily analysis, at the beginning of May, the price bounced on the symmetrical triangle support, getting strenght to move up in a strong up trend, reaching the main resistance level at about 126.617. Three long months of uptrend where the price never broke the ema 50, are a confirmation of the market's strenght.
-The resistance zone rejected the price many time and the 11th of September it fell down, bouncing on a daily support zone.
-Until the half of November, the price has been moving with a side trend but a period of high volatility and the increasing of the momentum, moved the price up, reaching again the main resistance zone.
CONCLUSION:
The price is actually in a consolidation period, moving just around the main resistance. This specific historical level is very important because reversed the market many times!
The price is also in an upcoming high volatility period, so I aspect soon a really great opportunity!
❤️If you enjoy my FREE Technical Analysis , let me know that with a big LIKE, I'll be so glad!
Have you got some similar or interesting idea? Feel free to leave a comment below sharing your idea!
Are you interested getting more FREE Technical Analysis like this? SUBSCRIBE my channel and you won't miss anything!❤️
