EJ Short idea
This pair is very similar to AJ, they are both very bearish on higher time-frames and have been reacting similar in regard to levels of confluence and rejection of significant monthly resistance.
EJ currently retested broken monthly support (now resistance) and has shown significant exhaustion and bearish setups.
The only close major support for this pair is around 119.500, if this level is broken we’re looking for it to drop toward the trendline around 118.500.
Once the trend line is broken a retrace is likely but ultimately we will look to target toward our next major support level around 117.000.
If the bearish trend remains strong look to enter on lower highs, fib levels and strong bearish setups all the way down to our monthly support around 116.000.
This pair is very similar to AJ, they are both very bearish on higher time-frames and have been reacting similar in regard to levels of confluence and rejection of significant monthly resistance.
EJ currently retested broken monthly support (now resistance) and has shown significant exhaustion and bearish setups.
The only close major support for this pair is around 119.500, if this level is broken we’re looking for it to drop toward the trendline around 118.500.
Once the trend line is broken a retrace is likely but ultimately we will look to target toward our next major support level around 117.000.
If the bearish trend remains strong look to enter on lower highs, fib levels and strong bearish setups all the way down to our monthly support around 116.000.